Thanks David66.
I entered my 1099-r based on what you described. Now I got the following questions:
- Total basis as of Dec 31, 2020? (shall I put 6000 here? - even though my contribution for 2020 was in early 2021)
- Value of traditional IRAs on Dec 31, 2021 ( shall I put 12470 or 0 － given all IRA amount has been converted to Roth)
Then I did search for "IRA contribution information" and jump to the link. I got following questions:
- Total 2021 traditional IRA contributions (I put 6000)
- Amount Switched from a Traditional IRA Contribution to a Roth IRA contribution (I put 6000, if I put 12470 here, turbo tax will say over limit)
- Total basis as of Dec 31, 2020 question comes up again （I put 6000)
After that, turbotax says "the 6000 you put into a Roth is considered an excess contribution." the fact is I didn't directly contribute into Roth. It's just I converted the 2020 contribution together with my 2021 IRA contribution together. Does turbo tax treat my 2020 IRA contribution to traditional IRA as a contribution to Roth? or the backdoor conversion only allow 6000 per year?
