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Deductions & credits
Hi @macuser_22 ,
In my case, I re-characterize from Roth to Traditional IRA for 2020, continue invest in traditional IRA (AA $ basis + BB $ earning). In 2021 I will contribute 6k non-deductible to traditional IRA. I would like to convert all AA+BB+6k to Roth as back door. How to enter them to turbotax?
Please correct me if I'm wrong, form 8606 will be:
Line 14: AA basis+6k
Line 15c: BB earning
Line 16: AA+BB+6k
Line 17: AA+6k
Line 18: BB earning
Are they correct? Please advise.
Thank you.
March 30, 2021
12:52 AM