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?

posted

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.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**