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Retirement tax questions
Yes, file The 2020 Form 8606 to report the $6,000 nondeductible traditional IRA contribution that resulted from the recharacterized Roth IRA contribution for 2020. Lines 1, 5 and 14 will show $6,000.
On the 2021 Form 8606 you'll have $6,000 for the 2021 nondeductible traditional IRA contribution that resulted from the recharacterized Roth IRA contribution for 2021. On line 2 you'll have the $6,000 carried over from line 14 of the 2020 Form 8606.
‎July 11, 2022
7:45 AM
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