ProSeries Frequently Asked Questions

Where do I enter the IRA basis and year end value?

Products Affected:

ProSeries/1040
ProSeries Express/1040
ProSeries Basic/1040

New for 2006

The traditional IRA basis is entered on the IRA Information Worksheet, Part III, line 12. The traditional IRA year end value is entered on the IRA Information Worksheet, Part IV.

The IRA Information Worksheet can be accessed using one of the following options:

Go to the Forms menu, choose Select Form, type IRA Info, and click OK.
On Form 1099-R Worksheet, click the QuickZoom button at the bottom of page 1.
On Form 8606, click the QuickZoom button in the Traditional IRA Basis Smart Worksheet below line 1.

Note: This is a change from 2005 and prior years where the IRA basis was entered on the Federal Carryover Worksheet Lines 9a and 9b, and the IRA year end value was entered on the IRA/ESA/QTP Information Worksheet, line 1.

Last updated: 02/13/2007