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Backdoor Roth Conversion
How do I handle the following situation:
Earlier in 2023, I did a backdoor roth conversion from traditional IRA for the prior year (2022) which was $6k.
Later in 2023, I did a backdoor roth conversion from traditional IRA for the current year (2023) which was $6.5k.
My 1099 R for my traditional IRA then shows 12.5k.
How can I correctly enter this + record it as a backdoor roth conversion. I've tried adding the 1099 -R form, but my federal taxes are going up each time so I believe I am doing something incorrectly.
Thank you!
Topics:
‎January 30, 2024
8:08 PM