DanaB27
Expert Alumni

Get your taxes done using TurboTax

Please verify your Form 8606. You should have the $6,000 basis on lines 1 and 3.  Assuming all traditional/SEP/SIMPLE IRAs were empty on December 31, 2022, lines 16 and 17 will have $6,000 and line 18 will be $0 (which will be carried over to line 4b on Form 1040). Line 14 should be $0. If this isn't the case then you might have to review your Form 1099-R entry and follow-up questions.

 

In regards to your NY state return please verify if there were changes on IT-201 line 9 taxable amount of IRA distributions. If your conversion was previously taxable on your federal return because you didn't show a basis (didn't enter nondeductible contribution) then this would have carried over to the NY state return (showing a taxable amount on line 9). But now that you entered the nondeductible contribution line should be $0.

 

@brian-perrigino 

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