I would say that, yes, your calculation is correct.
I got very slightly different math of $430 and $6,570 but this could have been a typo on my end somewhere or some other minor difference somewhere else in the "mock" tax return I was working on.
TurboTax will do this math for you based on the information that you have entered.
There is an excellent illustration of how to enter it into the program here: How to enter Backdoor Roth .
Of course in the illustration where you would normally enter $0 for the value of all Traditional IRAs on December 31, 2019, you will enter $107,000 (or the actual value) instead of $0.
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