Traditional IRA contributions

[Corinaf2000]

In 2021 contributed $7000 to a traditional IRA, and deducted it on schedule 1 IRA contribution. In 2022 contributed $7000 to that same traditional IRA and all it was nondeductible. In 2023 contributed another $7000, with $6110 of it being nondeductible. Am I correct that the form 8606 for 2021 would show zero basis. 2022 would show 14000 basis. 2023 would show $20110 basis?

[MaryK4 · Accepted solution]

No, your 2022 8606 would show $7000 basis, 2023 would be $13110.  Your basis is your nondeductible contribution.  

[Corinaf2000]

Thank you