alternatively, you might be able to elect to recharacterize the contributions to the Roth IRA as contributions to a regular IRA. You'd have to do a trustee-to-trustee transfer of the amounts originally contributed, minus the attributable losses, from the Roth to a nondeductible regular IRA, and make an election on your tax return to have the contributions treated as having been made to the regular IRA as of when they were made to the Roth. If you're recharacterizing your contribution from Roth to nondeductible IRA, then for form 8606, your basis would be the amount you contributed originally to the Roth, not the cash amount transferred on the date of conversion.
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