I am at the screen where it asks "Any Nondeductible Contributions to <my name>'s IRA?"
My situation:
- In 2020 I did a backdoor conversion (using post-tax money) from a Traditional to a Roth of $5400. The Traditional account was then closed since it was empty).
- In 2021 I did the same thing as in 2020 but for the full $6000. The Traditional was once again closed.
- I have no other Traditional IRAs open at this time.
Do I answer the question "Yes, I made and tracked non-deductible contributions" or do I answer No? If I answer yes, do I enter the $5400 or the sum of both years, i.e. $11,400?
If I answer no, it seems to increase my MAGI and I'm not sure why.
But the more fundamental questions is whether or not previous contributions that have been fully 'backdoored' should be tracked in subsequent years.
Thank you!
I've tried both and it changes my AGI by $3K or
