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February 8, 2024
Solved

Why wont Turbo Tax determine my Basis for a traditional IRA RMD and fill out form 8606?

  • February 8, 2024
  • 1 reply
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Will not complete form 8606 and place the appropiate amounts on lines 4a, 4b and 5 on form 1040
Best answer by dmertz

It's your responsibility to provide TurboTax with your basis information.  Click the Continue button on the page that lists the Forms 1099-R that you have entered and TurboTax will ask you the about your basis and year-end value in your traditional IRAs necessary to automatically complete Form 8606.

1 reply

dmertzAnswer
Employee
February 8, 2024

It's your responsibility to provide TurboTax with your basis information.  Click the Continue button on the page that lists the Forms 1099-R that you have entered and TurboTax will ask you the about your basis and year-end value in your traditional IRAs necessary to automatically complete Form 8606.