Thanks @DanaB27 . Thanks again for the valuable info. Can you explain a little bit what does it mean that the rest of the basis is carried forward to future years so that I can plan? I will pay taxes on the 5210$ now but what does that mean for the future? Can I move money from Traditional IRA to Roth every year based on the rest of the basis? For example - My Basis is
2016 (Roth IRA Balance $36,924.69) + 2017 (Back Door IRA 5500) + 2018 (Back Door IRA 7000) + 2019 (Back Door IRA 6000) = 55424.69. Is this correct method to calculate basis.
This year based on this - if I pay taxes on 5210 - What does that mean for future years?
