SlosbergTax
Level 1

I tried to get this answer earlier... I don't know what my 8606 is supposed to look like if my married couple both have a 100,000 basis in their roth IRA... and both contribute in March of 2021 to a nondeductible IRA solely for the purpose of backdooring the Roth, which they've done.   At present I have entered 7000 for both of them as a contribution on screen 24 to a trad IRA.  Naturally, because of their very high income, its nondeductible.  They have each converted their 7000 trad IRA contributions to a Roth... all of this is being done in March 2021, for their 2020 tax returns.   Do I need to make sure that Lines 4 and 8 populate with the number 7000 for each of them on their 8606?  If so, how do I accomplish that?  Please tell me, what should the 8606 say?

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