Thank you Fanfare. I understand I have to change form 8606 as well as reporting any gains/losses.
- What is the time frame for calculating gains/losses? I contributed 7k in Feb. 2022 for tax year 2021. Are the gains/losses from Feb. 2022 to now or Feb. 2022 to when I filed taxes or ???
- My Custodian is having a hard time calculating gains/losses. What am I to do if they can't provide what is required??
- Given the current market, there is probably losses rather than gains. Do I still report 7k or (7k - losses)? which line item do I report it in (1040 4a, 4b)?
Appreciate the help.
