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Get your taxes done using TurboTax
Thanks for the advice. Yes, I pulled out all the transaction info from vanguard to describe the contribution, recharacterization and conversion activity on 1040 X explanation. What I’m confusing is for 2022 8606 next year. The line 8 saying the net amount which will be less than $12000 since there’re loss while I recharacterize and conversion (a little gain here but still less than original contribution) . So I will end up having a $220 basis. But in reality, I had already emptied out my Traditional IRA.
August 29, 2022
8:20 PM