Hi,
We are filing jointly and have IRA conversions done in 2023 for one person. $6000 after tax non-deductible contribution to an IRA account for FY 2022 on 01/24/2023. $6500 non deductible IRA contribution to the same IRA account for FY 2023 on the same day 01/24/2023.
total of $12500.77 backdoor conversion to Roth IRA on 0/27/2023. Got a 1099R for this and have uploaded it to the Turbotax desktop version.
Getting stuck on the Non-Deductible contribution screen for form 8606. Selecting "Yes, made and tracked non deductible Contribution" takes to the IRA basis in traditional IRAs for all years through 2022. Not sure what will go here as total basis as no contribution was made for FY 2022 in 2022. Can you help with the basis? before this I had made a one time $6000 contribution to traditional IRA for FY 2021.
Also what number will go under "What's value of the traditional IRA on December 31, 2023"? only traditional IRA left after these conversions was the one for 2021 that was not converted. FMV of that is $6163.
For context I did not use turbotax for filing my 2022 returns. I had sent a separate form 8606 to the IRS that came back as not required. May be because of the contribution being made in 2023.
