All correct. The $5,000 nondeductible traditional IRA IRA contribution is reported on 2019 Form 8606. The $5,000 that appears on line 14 of the 2019 Form 8606 transfers to line 2 of the 2020 Form 8606. The 2020 Form 8606 will also show $0 on line 6 and $5,000 on line 8, resulting in all $5,000 of basis being applied to the $5,000 conversion.
