What all one should do to perform backdoor conversion to Roth IRA of one's already invested 6k (2 years back) in tIRA, and the current amount is 7k (after profit in $AAPL)
And one has not got any tax deduction benefit at that time as the adjusted gross income(AGI) did not allow for IRA deductions.
If the conversation is done now, one has to pay the income tax on the total $7k, or only on $1k as tax on $6k is already paid?
Note: No tIRA deduction is available for incomes greater than $208,000 for 2021
