DanaB27:
thank you for your reply.
per your instruction, i downloaded and entered form 8606/2020 and mailed to IRS.
here is how i did it:
for 1st $7000 nondeductible contribution to TIRA (2020), and carried over to 2021 as basis at RIAR conversion
8606/2020 shows
line1: $7000
line2: 0 (did nondeductible contribution first time in 2021 for 2020, so no basis before 2020
line3: $7000
line14: $7000
line18: 0
for 2nd $7000 nondeductible contribution to TIRA (2021)
two RIRA conversions of total $14000 in calendar year 2021
i could not follow your steps to amend 2020 tax return because my TT is Mac version and cannot open 2020 program. but 8606/2020 line18 showed "0" so there should be no tax number changes on 1040/2020, right ?
the steps for "deductions" and "1099R inputs" in your answers are not all same with operations on my computer, but follow my TT steps and using 2020 basis i could go through without "excess contribution" warning. THANK YOU!
i have another issue at Deductions and Credit section:
i was asked “how much your contribution to TIRA FOR 2021 switched or recharacterized to RIRA, EXCLUDING conversion, and rollover”. i am confused with the phrases here.
my backdoor RIRA transactions in 2021 calendar year, using 2020 and 2021 nondeductible TIRA contributions. Are these conversion or “switch”? how should I answer the question?
another doubt is, the above question only ask for 2021 TIRA contribution, but I had another (2020) contribution also “switched” to RIRA, where does TT handle this part?
this is a lengthy and messy message, appreciate your patience to read and answer it.
