I received a 1099-R for a $6k ROTH conversion to a Traditional IRA. The 1099-R has the distribution as $4,896 (loss in value). Would Line 1 of From 8606 be $6k or $4k?

Level 15

Mar 25, 2021 10:09:14 AM

The 8606 line is your 2020 non-deductible Traditional IRA contributions as entered in the IRA contribution section. If that was $6,000 the that is what would be on line 1.

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I received a 1099-R for a $6k ROTH conversion to a Traditional IRA. The 1099-R has the distribution as $4,896 (loss in value). Would Line 1 of From 8606 be $6k or $4k?