I have a question regrading my filing for Tax year 2020 for back door Roth conversion. I started back door roth IRA conversion first time for the year 2020, I contributed for backdoor for the year 2020 between Jan 2021 to April 2021. In my 8606 I see the following, is that correct?
8606 Entries
1) Enter your nondedutible contributions to tradition IRAs for 2020 including those made From January 1, 2021, through April 15, 2021. See instructions .. $6000
2) Enter your total basis in traditional IRAs. See instructions . . .. $0
3) Add lines 1 and 2 . . . . . . . . . . . . . . . .. $6000
In 2020, did you take a distribution from traditional, SEP, or SIMPLE IRAs, or make a Roth IRA conversion?
Since I did tradtional to ROTH IRA conversion I believe this should state 'Yes' Is that correct? If yes, then Item #4 in 8606 is blank for this item "Enter those contributions included on line 1 that were made from January 1, 2021, through April 15, 2021"
Question:
1) This line item #4 doesn't have any value in it, is this correct or Do I need to amend my returns?
FYI Line #14 "Subtract line 13 from line 3. This is your total basis in traditional IRAs for 2020 and earlier years ." has the value $6000
2) Lets say for the above scenario, since I did the conversion on 2021 year. Is there any IRS rule that conversion done applies only for the year 2021 not 2020?
