- I made a $5500 contribution to my Roth IRA in 2015 (T1).
- Later I recharacterized this contribution. The market had gone down and I only got $5090 in my TIRA when the recharacterization happened (T2).
- Then after sometime I converted the amount in my TIRA back to a Roth IRA. This time the market had gone up and I got $5146 in my Roth IRA (T3).
Now I am trying to figure out how to file form 8606. This thread helped me a lot but it took a while to parse all of it and I think it would be useful to have this topic as a concise Q&A on this site. So given the facts above, are the forms below filled out correctly? What is purpose of line 14 (the basis) in form 8606?
Also these are the 1099-R forms I got from my custodian (vanguard). Are these correct?