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.