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April 6, 2025
Question

How do I enter IRA value for form 8606, line 6

  • April 6, 2025
  • 1 reply
  • 0 views
I have basis in a traditional IRA. I've entered the basis amount but can't find where to enter the IRA value as of 12-31-24 for line 6 of the 8606.

    1 reply

    April 6, 2025

    After you entered all your Form 1099-R you need to continue:

     

    1. Click on "Search" on the top right and type “1099-R”  
    2. Click on “Jump to 1099-R”
    3. Click "Continue" and enter the information from your 1099-R
    4. On the "Here's your 1099-R info" screen click "Continue"
    5. Answer "Yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
    6. 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

     

    Also, make sure you checked the IRA/SEP/SIMPLE box when you entered the Form 1099-R.

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