My spouse did a backdoor roth in Mar 2025. At the time, we had $0 in Traditional IRAs.
In Oct 2025, he rolled over an old $40k Traditional 401k to a Traditional IRA. He then moved the amount from the Traditional IRA to his current employer's Traditional 401k. Therefore, the amount in Traditional IRAs as Dec 31, 2025 is still $0.
When I filled out my taxes, it is showing that $6.9K of the roth contribution from my spouse isn't tax exempt. Is that correct? Given we had $0 Traditional IRA at year end, why is it calculating such a low "total basis in traditional ira"?
