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Get your taxes done using TurboTax
I think I know what's my problem now 🙂
So I have completed the Traditional IRA contribution part in Turbotax. Deductions is zero, so I'm good for now.
Then I would go ahead and convert the Traditional to Roth IRA on Fidelity's platform and will receive a 1099-R, and complete Turbotax with conversion details. I suppose I can do this step only in the next year's return as it is after April 18, right? Also, my traditional IRA already earned 109 dollars, so I wonder how do I pay tax on that income - I suppose in 2023 return. I hope I didn't say it too many times, but thank you 🙂
‎May 10, 2023
12:22 AM