I made a traditional IRA to Roth Conversion in 2022 (Back-Door Roth). I contributed $6000 to my traditional IRA in 2022 (non-deductible). Some months later I converted it to a Roth IRA. The market had dropped by then and the conversion amount was only $5300 approximately. After entering all the information including the 1099R showing the $5300 on my 2022 return, my Form 8606 showed me ending up with a basis of $700 even though the account was emptied. This basis carried over to my 2023 return. Is this correct? Or should I have entered the full $6000 as the amount converted on my 2022 form 8606 (even though it was only $5300)?
