You're right, there was about $8,154 in the traditional IRA at the end of 2022.
This also made me realize that I had the basis for the traditional IRA incorrect. I had a zero entered but it was actually $13,988. Now that I updated the basis my taxable amount is zero.
What does the $6,000 represent in the formula below, Roth contribution? I presume my descriptions for the others are correct?
Total Roth Conversion * $6,000 / (Total Roth Conversion + Value at the end of 2022) = Nontaxable amount
Am I completely off base thinking that only the $4,845 should be taxable? This was the amount from the pre-existing balance in the Traditional IRA that was converted to the Roth IRA, before the recharacterization took place. It's my understanding that there shouldn't be any taxes due, since there were no gains, as result of the recharacterization and then conversion of those funds back to the Roth IRA.
