I recently discovered the idea of backdoor Roth IRA, and decided to move forward with it. I have been contributing to a traditional IRA for a few years now. Following all the rules correctly. The money that I have in my traditional IRA, I have always paid taxes on.
So this is my first year ever doing a conversion. I converted the full $23,000 that was in my traditional IRA into a Roth. l've never filled this form before because l've never done a conversion before. I paid all the taxes on $23,000 that was in my traditional IRA because I forced to due to income limits.
Now, what do I put on line 2? How do I go about not having to pay taxes on the $23,000 again?
