Thanks for the detailed rundown.
I only have the one Traditional IRA ,and My Roth--no other Traditional IRA money. The Traditional was set up just for this back-door so it should be pretty clean. My 8606 from 2018 filing year shows on line 14. a basis of 19,570.00 for "total basis in traditional IRAs for 2018 and earlier years"
If I convert it now, I assume it wont show until next year when doing 2020 taxes. I have not yet made my contribution for 2019 as I have not yet done my taxes to determine my limit. I plan to do this conversion first, to zero it out. Then before the filing deadline, I will make my additional contribution and right away convert it over too then next day. Will that generate another 1099-R to address separately, or will those combine into one for next year?
Again, I assume I will deal with all of this on next year's return as it's now 2020. But I want to covert it now to start investing it while the market is down and to make it cleaner going forward.
