Thank you @ThomasM125, this is helpful. I'm still puzzled by these seemingly contradictory statements in your answer. I can't square:
You would enter the current year contribution
with
You don't need to track previous year IRA non-deductible contributions since they are now in the ROTH IRA
So what do I enter in the box "Total Basis as of December 31, 2020" on the "Let's Find Your IRA Basis" Screen?
- 0 because I should not be tracking it anymore
- 5400 because that's what I converted in 2020
- 6000 because that's what I converted in 2021
Or are you telling me that by always entering the amount converted in the most recent year (in this case 6000) on this screen, and entering $0 for the prior year traditional IRA balance, then I will always get it right and the distribution will not be taxable?
Thanks again!
