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@psanand wrote:

Hi DanaB,

 

I would appreciate it if you could help me by checking the details. Thank you!

IRA Balances:

IRA Balance on 12/31/2020 = $0.40

IRA Bal as on 12/31/2021  = $ 0.49

 

IRA Deposits & Conversions:

For Year 2020:

Deposited in IRA on 1/4/2021 for year 2020 = 7K

Roth Conversion on 2/4/2021 for year 2020   = 7K

For Year 2021:

Deposited in IRA on 5/25/2021 for year 2021 = 7K

Roth Conversion on 6/8/2021 for year 2021   = 7K

For Year 2022:

Deposited in IRA on 2/4/2022 for year 2022 = 7K

Roth Conversion on 3/7/2022 for year 2022   = 7K

 

my 2021 tax return now has generate form 8606 and here are the details:

Line 1 = 14K

Line 2 = 7K

Line 3 = 21K

Line 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 = blank

Line 14 = 21K

Line 15a, b, c  = 0.00 

Line 16 thru 25c  all are = blank

 

Could you please check and let me know, I have done it correctly?

Or if it is ok, I can post the completed form (without my personal Information) and you can help by checking?

Please let me know.

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If there is a * (asterisk) next to line 15 then  lines Line 4, 5, 6, 7, 8, 9, 10, 11, 12, 13  will be blank and the calculation are done on the "Taxable IRA Distribution Worksheet" instead.   You need to look at that.