@MinhT1 wrote:
Yes.
Roth contributions: $1,000
Amount transferred: $1,237.24
Hi @MinhT1
Just to follow up with a separate question, it looks like when I enter the amount transferred of $1237 (which was recharacterized from the original $1000 contributed to ROTH), it added this amount of $1237 to my basis (line 1 form 8606) for 2020. Is this true or should be only be $1000 contributed to traditional?
This is a totally separate question please just to help my understanding:
"TELL US THE VALUE OF ALL YOUR TRADITIONAL IRA ACCOUNTS"
- Enter or verify the value (ending balance amount) of all traditional IRA on December 31, 2020
- Include any IRA contributions made or will make in 2021 for 2020.
Would the above amount be just what I contributed in 2021 for year 2020, or include any outstanding recharacterizations i made in 2021 for 2020? For example, $1000 directly contributed in 2021 for 2020 + $1000 recharacterized in 2021 for 2020?
