a question about ira basis for roth conversions
Hi, With assistance from here I was final able to enter the Ira basis from last year's taxes ( done manually) in my Turbotax online Deluxe preparation.
It appears that the software subtracted my basis from total IRA distribution (which was partial converted to Roth) to get the taxable amount. Is that the way it's supposed to work? My refund went up considerably after it did that. I'm no really familiar with how that should work. Any info would be appreciated.
Dave