Thank you....that is a really detailed, helpful article. Unfortunately, it still doesn't work for me. Here is the scenario. Husband and wife, filing joint. Husband made $8k Back Door Roth (BDR) in 2024, converted at $7,986, no gain so no issues.
Wife did BDR in Jan 2024 (a 2023 contribution but reported in 2024 1099-R) and Nov 2024 (a 2024 contribution reported on the same 2024 1099-R. That total is $14,714 ($6,500 for 2023 plus $8,000 for 2024; wife turned 50 in 2024), so I assume 1040 Line 4b should show a gain of $214. But it does not.
It also completely messes up my New York State return; somehow it thinks I have $88,414 in itemized deductions (I do not; I never itemize, not even close). I haven't even started to try and figure out how to fix that mess.
I about ready to delete my whole return and start over. It's painful b/c the 1099 import process from Betterment doesn't work (the screen says it imported all the data, but it just gets stuck in that endless login-import-success loop....so I have to manually enter everything.
