That makes things a lot clearer! thanks.
So BASIS (with regard to Traditional IRAs) is an amount that INCREASES with either non-deductible contributions or after-tax rollovers (both consisting of after-tax dollars) and DECREASES with either distributions or Roth conversions?
And can be depleted with multiple conversions?
Are these additions and subtractions reflected on Line 14 of Form 8606 (Total Basis in Traditional IRAs)? And then carried forward by TurboTax to the next year via the IRA worksheet?
Sorry for the salvo of questions
