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Retirement tax questions
1)Yes, the basis is still $6,000 because it was for the 2019 tax year.
2)No, do not enter the total amount converted for the value. You have to enter the value on December 31, 2020, in your case $0. Yes, it is correct that the gains are taxed since any earnings you had will be taxable in a conversion.
3)No, you do not need to re-import the 2019 amended return to prepare your 2020 return.
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March 22, 2021
5:00 AM