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iainthompson50-g
Returning Member

I need to add my basis for my IRA Roth conversion for tax year 2022 (I forgot)? TT only asks for basis up to end of 2021, is this an error? Shouldnt 2022 be included?

I have full records of my Traditional IRA basis (although I empty the account with rollovers to Roth IRA each year. The 2022 tax year form only asks for basis up to end of 2021, is this a mistake?
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3 Replies

I need to add my basis for my IRA Roth conversion for tax year 2022 (I forgot)? TT only asks for basis up to end of 2021, is this an error? Shouldnt 2022 be included?

No ... you need to enter the 2022 contribution in the 2022 program which will then be added to the prior year amounts. 

iainthompson50-g
Returning Member

I need to add my basis for my IRA Roth conversion for tax year 2022 (I forgot)? TT only asks for basis up to end of 2021, is this an error? Shouldnt 2022 be included?

My prior year amounts are zero though. I always empty the Trad account. Any way I do this I end up being double taxed on my 2022 rollover. There must be a section where I enter my 2022 basis?

 

And I cannot for the life of me find it

dmertz
Level 15

I need to add my basis for my IRA Roth conversion for tax year 2022 (I forgot)? TT only asks for basis up to end of 2021, is this an error? Shouldnt 2022 be included?

As Critter-3 said, in 2022 TurboTax, simply enter your nondeductible traditional IRA contribution made for 2022 and TurboTax will include it on Form 8606 line 1, adding it to your basis.

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