Yes, the value on December 31, 2021, is the value of what is in the account at end of the year 2021. This will be on your end-of-the-year statement.
Yes, this does not include what you converted to Roth during 2021, it is just whatever is left sitting in the traditional IRA on December 31, 2021.
Please be aware, that this value left in the traditional IRA will have part of your non-deductible basis (nontaxable part) and part pre-tax contributions plus earning (taxable part). You can't just choose to take out the nontaxable basis part and leave the taxable part in the account. Each distribution/ conversion going forward will have a taxable and nontaxable part until you empty the traditional IRA completely (=$0 at the end of the year). If you do that then you can start fresh and use the backdoor Roth method correctly and make nondeductible traditional IRA contributions and convert them tax-free to a Roth account.
No, the recharacterization of a 2020 contribution is not reported on your 2021 return. This will only go on your 2020 tax return.
@dhuynh44
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