I followed this link for my backdoor roth:
and got the form 8606 generated. However, I feel the 8606 form is calculated wrong.
My situation: I contributed $8000 in 2024 to a Traditional IRA and converted to Roth IRA immediately. At the end of the year, I had 0 balance in a traditional IRA. and I did the same thing in 2023.
The form generated by TT is:
Line1. Non-deductible contribution: $8000
Line2: Basis: $0
Line 3: $8000
Line 14: $8000
Shouldn't it be below?
Line1. Non-deductible contribution: $8000
Line2: Basis: $0
Line 3 (line 1+2): $8000
Line 4 Contributed between 1/1/2025-4/15/2025: $0
Line 5- (Line 3-line 4): $8000
Line 6 -(all traditional IRA balance as of 12/31/2024): $0
Line 7- Distribution not including conversion: $0
Line 8-Amount converted from traditional to Roth: $8000
Line 9- (add 6,7.8):$8000
Line 10-Line 5/line 9: 1
Line 11: Line 8 * Line 10: $8000
Line 12:Line 7*Line 10: $0
Line 13:Line 11+line 12:$8000
Line 14:Line 3-Line 13: $0
Line 16: $8000
Line 17: $ 8000
Which part did I do wrong?
likely didn't answer the 1099-R input follow-up interview questions correctly to make sure it's classified as a IRA conversion, suggest going back over those interview questions. Here are the instructions to follow on how to input a backdoor Roth