Thank you. You are correct. When I entered Traditional IRA basis as as on Dec 31st, 2020 as $7,000, the refund came back. I am one step ahead now.
Coming to my problem. it is little more acute. I am above 50 years. I made a contribution of $7,000 to traditional ira on March 2021 for Prior Year 2020 and immediately transferrred to ROTH IRA. My wages are above deductible contribution limits. So I am sure it is non deductible. Later in Aug 2021, I again made a contribution of $7,000 again and converted to ROTH IRA. This was for year 2021
The 1099-R from Fidelity for year 2021 shows 14,000.03 and taxable amount also shows the same amount. How do I account this? Please advise
