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gregory-a-cook63

Question

How do I enter information for my 8606 to calculate my non-taxable portion of my IRA/401K distribution?

Forum|Forum|1 year ago
February 3, 2025
1 reply
0 views

I have IRA/401K basis from previous 8606.

Please follow these steps to enter your basis in your traditional IRA:

Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
Click "Continue" and enter the information from your 1099-R
On the "Review your 1099-R info" screen click "Continue"
Answer "Yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
Answer the questions about the basis from line 14 of your last filed Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs

Please see Line 2 Instructions for additional information.

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gregory-a-cook63Author

Thank...this worked just fine.