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Get your taxes done using TurboTax
The $1,000 contributed in January 2023 as a 2022 traditional IRA contribution was reportable on your 2022 tax return, not as a contribution on your 2023 tax return. You made no Roth contributions.
Roth conversions are unlimited, so there is nothing wrong with reporting a $7,500 Roth conversion. A Roth conversion is not to be entered anywhere under Deductions & Credits. The Roth conversion is handled by entering the Form 1099-R that reports the distribution from the traditional IRA.
‎February 13, 2024
9:17 AM