dmertz
Level 15

Retirement tax questions

Yes, that's the result I expect and that I get when I enter the transactions that you've described.  It seems strange that the basis added by the contribution for 2019 made in 2020 gets applied in determining the nontaxable portion even though the same contribution does not get added to the year-end balance, but that's the way Worksheet 1-1 in IRS Pub 590-B works.