There are various similar posts to this and I feel I've done the math and work correctly but I want to make sure 100%.
I contributed $6,000 into a Roth IRA in Feb 2022. In Jan 2023, I realized my income was too high. I rechar $5,XXX to a traditional IRA. A few days later, I backdoor converted to a Roth IRA $5,XXX. In February 2023, contributed $6,500 to a traditional IRA and correctly did a backdoor conversion of that to a Roth IRA a few days later.
My 8606 for 2022 was filed quite wrong I think.
I am planning to file an amendment of my 2022 8606 form as such (after reading many posts I think I have this right):
1. $6,000
2. $0.00
3. $6,000
14. $6,000
17 and 18 BLANK as I did not do the conversion in 2023.
I will file a 1040 along with an explanation of the recharacterization in addition for 2022.
After my 2023 conversion, I still have $.76 in my traditional IRA account. That will count for the additional $1 in some answers below.
I would then file my 2023 8606 as such:
1. $6,500
2. $6,000
3. $12,500
5. $12,500
8. $12,501
9. $12,501
10. x 0.999
11. $12,500
13. $12,500
14. $0.00
17. $12,501
18. $12,500
19. $1
After some additional reading, I may remove the $1 from those answers and convert that $1 next year when I contribute again. Let me know what you think and if I'm correct. Appreciate any and all help.
