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Retirement tax questions
Everything you have entered seems perfectly correct to me based on the situation you described, except for your answer to question 6.
For question 6, you should answer 'no'. You did not have a basis to track for prior years. Even though you did answer 'yes' to this question, as long as you also indicated that you have no basis (which you did, based on your question) then everything is still correct.
Your other answers are fine and the result of your entries should show that you have made a non-deductible IRA contribution for 2020. This will be shown on Form 8606, which will be included as part of your 2020 return.
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March 8, 2021
7:26 AM