This question is an extension of my backdoor Roth IRA tax discussion.
My 2022 tax return form 8606 was completed incorrectly. Part 1 is blank and I was taxed on the 6000 I contributed to my Trad IRA and rolled over to the Roth. ie, double taxed.
Each year my Trad IRA balance is zero, no other accounts to report.
I logged into TurboTax to correct this, but it only asks for basis up to end of 2021. This to me is odd, why isnt 2022 included? If I enter 0, since the account balance is 0, I still get double taxed. If I enter my 2022 basis, I do not get double taxed.
What am I missing? There does not seem to be an option in TT to account for my 2022 basis even though im corrected my 2022 tax year return. I would like my ~1400 USD back!
Can anyone help?
Tx
My 2022 tax return form 8606 was completed incorrectly. Part 1 is blank and I was taxed on the 6000 I contributed to my Trad IRA and rolled over to the Roth. ie, double taxed.
Each year my Trad IRA balance is zero, no other accounts to report.
I logged into TurboTax to correct this, but it only asks for basis up to end of 2021. This to me is odd, why isnt 2022 included? If I enter 0, since the account balance is 0, I still get double taxed. If I enter my 2022 basis, I do not get double taxed.
What am I missing? There does not seem to be an option in TT to account for my 2022 basis even though im corrected my 2022 tax year return. I would like my ~1400 USD back!
Can anyone help?
Tx
Statistics: Posted by Hullmet — Sun May 19, 2024 3:02 pm — Replies 7 — Views 289