It appears that a piece of information is missing, in that you will need to input your Traditional IRA contribution of $7,000.
- Go to Deductions & Credits to input the contribution first
- Next, go to Wages & Income to input your Form 1099-R
- When you reach, Any nondeductible contributions to your IRA?, answer Yes
- Enter prior year basis (2.00)
- Next, enter the value of all of your Traditional/SEP/SIMPLE IRAs on December 31, 2025. If you emptied the account for the conversion, enter 0
Doing the above will combine your new basis with our old basis, bringing your taxable amount down to 0.
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