Thank you for your quick response macuser_22. I realize I don't need to keep track of my Roth basis but I guess I wasn't sure if recharacterized contributions done in subsequent years counted toward the traditional non deductible basis on the 8606 for the current year. I gather they do not from your response.
For 2018, yes I did receive a 2019 1099-R with 6500 in box 1 and code R in box 7. I also received a 2019 5498 with 7k contribution in box 1, 6500 recharacterized contrib. in box 4, total cash balance (FMV) in box 5, and IRA box marked in box 7.
For 2019, I did report the 7k on line 1 of the 8606, however, I did not report a distribution or total value because I was not aware when I filed that the recharacterization would be reported as 2019 instead of 2018 as I thought it should have been. Did you mean to say 12/31/19 basis would then be 7k or is 12/31/20 correct?
For 2020, I will report as you stated but also enter the total value info since a conversion to Roth was done in 2020, correct?
Thanks so much for your help and the proration explanation. Much clearer now.
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