Apologies, I had thought previous discussion was marked solved, and since I was asking a set of new questions, wasn't sure if a new thread was appropriate.
Thanks for the comments.
- Yes, confirming I started with zero balance in any traditional IRA. Yes, all contributions made with after tax dollars.
- Yes, for 2020, both my spouse and I each made $6000 non-deductible contributions. Confirming form 8606 on 2020 tax return shows:
- Line 1: 6,000
- Line 2: 0
- Line 3: 6,000. Distribution = No
- Line 14: 6,000
- However, I'm noticing line 4 (Enter those contributions included on line 1 that were made from Jan 2021 through April 15) = 0. Since I made my 2020 Contribution in Feb 2021, I'm guessing this should instead be 6,000?
- 2021 form 8606 shows:
- Line 1: 6,000
- Line 2: 6,000
- Line 3: 12,000. Did you take distribution or make conversion
- Line 4: blank
- Line 5: 12,000
- Line 6: blank
- Line 7: blank
- Line 8: blank
- Line 10: x
- Line 11: blank
- Line 12: blank
- Line 13: 12,000
- Line 14 total basis: 0
- In 2022, form 8606 shows:
- Line 1: 6,000
- Line 2: 0
- Line 3: 6,000
- Line 8: blank
- Line 10: x
- Line 13: blank
- Line 14: 6,000
- 2020 1040:
