Hi all, I followed the steps listed here for filling out the information for a Backdoor Roth IRA, but I'm not sure if the final outcome on my Form 8606 is correct. Due to a few days of waiting for the deposit in the Traditional IRA to become available for the conversion to the Roth IRA account, the Traditional IRA account accrued interest, leaving an account balance of $2.70 on December, 31, 2023. I contributed the max $6500 in the Traditional IRA in 2023 and converted the full $6500 amount to the Roth IRA.
On Form 8606, lines 2 and 6 are blank even though there was $2.70 balance remaining. This led to the below lines:
Line 13 = $6497
Line 14 = $3
Line 16 = $6500
Line 17 = $6497
Line 18 = $3
Is this correct? I would have expected either line 2 or line 6 to be $3 based on my entry for the TurboTax question of Value of your Traditional, SEP and Simple IRAs on December 31, 2023 set to $2.70 (rounded to $3).
