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That's what I did earlier, can I take a pause here (stop at step 8.7.) to make sure I'm on the right track so far? Thanks.

 

On Deductions & Credits, the Traditional IRA and Roth IRA interview

  1. I checked only Roth IRA box
  2. Tell Us the Value of All Your Traditional IRA Accounts on Dec 31 2020
    1. Not sure why it is asking about Trad IRA although it is a Roth interview
    2. I entered 0 (because the conversion happened in Nov 2020)
  3. Did you make Roth IRA Contributions?
    1. YES
  4. Is This a Repayment of a Retirement Distribution?
    1. NO
  5. Enter Your Roth IRA Contributions
    1. 6000
  6. Tell Us How Much You Transferred (recharacterization)
    1. 7000
  7. Roth IRA Explanation Statement
    1. Date of the Original Contribution: 10/01/2020
    2. Date of the Recharacterization: 11/15/2020
    3. The Amount Recharacterized: 6000
    4. The Amount Transferred (Recharacterization plus earnings or losses): 7000
    5. Reason for the Recharacterization: excess contribution
  8. Let Us Track Your Roth IRA Basis
    1. Would you like us to track your Roth IRA basis?
      1. YES
    2. Withdraw from Your Roth IRA Before 2020?
      1. NO
    3. Enter Prior Year Roth IRA Contributions
      1. 115000 (sum of 2018 and 2019)
    4. Any Roth IRA Conversions Before 2020?
      1. NO
    5. Enter Excess Contributions for prior years 
      1. So does prior years include 2020?
        1. I assumed no and entered 0
    6. Income Too High To Deduct an IRA Contribution
      1. continue
    7. You Currently Have a Penalty
      1. It is asking me to enter the amount of excess contribution I want to withdrawn before May 17