Today (8/18/2020) i did a roth conversion ($2000) for the 2020 traditional IRA contribution. I will do a 8606 for this $2000 contribtion when I do my 2020 tax filing time on April 15 2021.
For the remaining money balance in my tradditional IRA, which was contributed in 2016, and which Turbotax failed to generate a 8606 at the time of the 2016 tax filing, I chose to wait to do the roth conversion later only after I send in the 2016 form 8606 to the IRS. I will send in a stand-alone 2016 form 8606 to the IRS by certified mail with a return receipt to make sure someone at the IRS signs it for certifying that the IRS has received my 2016 form 8606.
Question 1: As soon as I mail in the 2016 form 8606, to the IRS, can I go ahead to do another Roth conversion for the remaining balance ($1700) in my traditional IRA account. My original contribution to the 2016 traditional IRA was $3000. I also have the 2016 form 5498 from my investment firm, Fidelity, showed that I contributed $3000 to the traditional IRA in 2016.
Question 2: Should I also include a copy of the 2016 form 5498 from Fidelity along with my 2016 form 8606 to prove that my original 2016 contribution to the traditional IRA was $3000 (even though the remaining balance in my tradditional IRA is now only $1700 which is a loss due to my bad choice of investment) ?
Thanks
