I have made non deductible contributions to a Traditional IRA for years prior to 2019 (basis as of 12/31/2018 = $7200), and have never made deductible contributions to the Traditional IRA.
In 2019 I converted 7200 from the Traditional IRA ( I only have 1 Traditional IRA) to my Roth IRA and also, for tax year 2019, I am making a non deductible contribution of $6000 to the Traditional IRA in March of 2020.
After the 2019 $7200 withdrawal for the conversion and prior to the $6000 2019 (in 2020) contribution, the Fair Market Value as of 12/31/2019 was $5035 due to stock gains in the account.
In filling the Taxable IRA Distribution worksheet line 4, should I enter:
a - $5035
or
b - $5035 + 6000 (2019 contribution in 2020) = $11035
The step by step section for the income subject is not specific enough (and this entry is the one used in the calculations), unlike the step by step section for the deduction subject which clearly states tp include the 6000 2019 deduction even if made in 2020
Thank you
