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Retirement tax questions
Yes, since you didn't convert the amount in 2020 you will answer no and skip to line 14. Your entries are correct.
Line 2 is the basis reported on the previous Form 8606 line 14. Therefore, in 2020 this is the basis prior to 2020. Please see Form 8606 instructions line 2 and 8606 Instructions Basis chart for details.
A basis means that it was already taxes/ that it was nondeductible. Pre-taxed amounts are not included in the basis.
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March 14, 2021
12:16 PM