Personal Finance (Not Investing) • Roth Conversions and Turbotax issue

Background in 2023

1. I moved some 401K to Rollover IRA (preexisting) in mid-Jul
2. Then converted some funds (more than #1 above) to Roth from Rollover
3. Then make some deductible traditional IRA contributions in 2023
4. I have been doing some backdoor Roth conversions in the past by making non-deductible contributions to IRA and then Rolling over to Roth.

I am having issues working with Turbotax on this. It is not considering 100% of the funds converted to Roth as taxable. This is leading to issues with tax calculations and I am not sure, how to work around it.

Wondering, if someone has encountered similar issue and found a workaround.

Thanks

Statistics: Posted by Bunty — Sun Mar 17, 2024 12:51 am — Replies 2 — Views 329

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