I am seeing the question "Enter the value of Roth IRAs on Dec 31, 2021".
1. I have 2 Roth IRA accounts. I made 6 years of "Backdoor Roth contributions" into my first Roth account and 10 years of "Backdoor Roth contributions" in my second Roth IRA. Is this question asking for the total balance of both of my Roth IRA accounts on 12/31/21?
2. What is the purpose of asking the total balance of these Roth accounts, if the values of each account varies greatly depending on market ups and downs?
If you have a penalty for excess IRA contributions, the penalty is based on the amount of the excess or your balance in the account at the end of the year, whichever is less. That is why you are asked to enter the value. You should add together the balance of all of your IRA's and enter that amount.
Note that this question was asked regarding 2020 and answered in early 2021.
The same answer still applies for 2021.
If you have a penalty for excess IRA contributions, the penalty is based on the amount of the excess or your balance in the account at the end of the year, whichever is less. That is why you are asked to enter the value. You should add together the balance of all of your IRA's and enter that amount.