I made 6000$ nondeductible Traditional IRA contribution for 2021 at Feb 2021, and converted to Roth immediately at the same month. The initial value of my Traditional IRA was 0. Now I am filling out turbotax, in the tab "Tell Us the value of your traditional IRA", what should I put for outstanding recharacterization? Should it be 0 or 6000? Thanks!
$0.
You did no recharacterization, you did a Roth conversion.
Thanks dmertz, one more follow up question, If I contribute nondeductible money to traditional IRA and convert to roth each year, my IRA basis (line 2 from form 8606) should be increasing each year right? For example: this year my basis is 12000$, and I contributed 6000$ after tax money, so the following year, my basis should be 18000$ right?
No, line 2 will be zero every year. Line 2 of a Form 8606 comes from line 14 of the previously filed Form 8606 which will be zero because the Roth conversion consumes the basis.