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Get your taxes done using TurboTax
Thank you for your quick reply.
In 2020, I did file an 8606. But Line 2 says 0 for Total Basis, because I immediately converted it, and I waited until my 2020 taxes were filed before I contributed for 2021.
So did I do something wrong with the 2020 total basis?
I saw that on the screen for Let's find Your IRA Basis, if I change that from $0 to $6,000, the tax liability goes away. But did I do 8606 incorrect in 2020? But how did that happen?
March 11, 2022
5:44 AM