I am trying to enter conversion of a portion of funds in an existing Traditional IRA account to an existing Roth IRA account.
I have followed the instructions in the article "How do I enter a backdoor Roth IRA conversion?"
Some of the steps are not intuitive to me and I would like to ask and check if they are correct.
My questions:
1. Does Step 1 (Deductions & Credits section) have to be completed before Step 2 (Wages & Income section)? Or does it matter?
Step 2 has to do with the 1099-R, with where the money is coming from, so it seems like this should be done first.
2. In Step 1. For step 6. of the instructions, "Tell Us How Much You Contributed" screen. Should this be the amount that I am pulling out of the Traditional IRA account to put in the Roth IRA account?
Or should this be $0 since I am not contributing any additional money to my Traditional IRA in 2020?
3. Why does it want me to "Tell Us the Value of All Your Traditional IRA Accounts" ?
