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2020/2021 nondeductible IRA contributions double counted?
I made two nondeductible contributions to traditional IRA 2021 and later converted to Roth RA , here is timeline
1st contribution: $7000 on 05/10/2021, converted 05/17/2021, for 2020 (before tax deadline 05/17/2021, but did not file Form 8606)
2nd contribution $7000 0n 06/08/2021, converted 08/14/2021, for 2021
When I fill up on TT, I went through two IRA explanation statements, and finally show my 2021 contribution was $14000, TT told me over contributed.
Apparently the portion for 2020 was counted to 2021, but how should I correct it?
Greatly appreciate anyone's help. Thanks
March 21, 2022
10:01 PM