- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Hi @macuser_22
Thank you so much. I asked for 2021. I know too early to ask for 2021, but just for my understanding how roth backdoor work so I can confident to apply it.
I re-post my question here:
Re-characterize from Roth to Traditional IRA for 2020 (AA $ basis + BB $ earning: from 1099R 2021)
Continuen to invest in traditional IRA (AA $ basis + BB $ earning 2020 + CC$ earning 2021).
In 2021 contribute 6k non-deductible to traditional IRA.
Convert all AA+BB +CC+6k to Roth 2021 as back door.
How to enter them in turbotax for 2021?
Form 8606 2021 will be:
Line 14: AA basis+6k
Line 15c: BB + CC earning
Line 16: AA+BB+CC+6k
Line 17: AA+6k
Line 18: BB+CC earning
Is this correct? Please advise. Thank you.
March 30, 2021
5:22 PM