@DanaB27
Hi Dana I was responding to your last post of "$1203 was gains so I would have to pay taxes on it and $1624 would be my basis going forward" but somehow all of our last few posts are gone!!!!!
I just had a couple of more questions for my understanding please.
1. Where is this $1000 contributed/converted in 2021 for 2020 reported? It would make sense to be included in the $2203 on my 1099-R for 2020? My 1099-R for 2021 is $4902. I made $4080 contributions/converted in 2021 for 2021 + $1000 (2021 for 2020) is greater then $4902? Also it does not make sense that I would gain $1203 bc as soon as I contribute to traditional I convert to Roth as soon as possible.
2. The part that asks "How much outstanding recharacterizations?" Do I enter $1000 (contributed) or $1317 ($1000 contributed + $317 gains)
3. The end VALUE for 2020 is $0 on my statement but this should not hold true correct? Line 6 at the moment is $1000 ($1000 recharacterizations). Should this amount on Line 6 actually be $2317 ($1000 contributed in 2021 + $1317 recharacterized)?
Thank you!!
