Sorry coming back to this. When I enter the 1099-R, the question I mentioned that asks "Tell us the value of your Traditional IRA" the first box is "Value of your Traditional IRA as of Dec 31, 2024" this is where I put $9.75 which it rounded to $10. I left "Outstanding Rollovers" and "Outstanding recharacterization" empty. However, now it thinks that my basis is $6990 as it is not seeing that this was earnings. Which is the part that is confusing me.
It should see I added 7k to traditional, converted the 7k to Roth, and the $10 I had left at the end of the year is earnings that happened before I did the conversion, which honestly I should have converted everything.
The 8606 has lines 13 and 17 as $6990. Maybe I need to leave that 12/31/24 at $0? Because the sub question under "Value of your Traditional IRA as of Dec 31, 2024" says "Enter any outstanding 2024 rollovers or recharacterizations that were not completed until 2025" then it asks for value as of 12/31/24 and then the other 2 fields.
Sorry, hope all that makes sense. 🙂 Thank you for your help!
