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Get your taxes done using TurboTax
It is OK that you are seeing the message that you do not qualify for an IRA deduction. That is to be expected. You are entering a non-deductible Traditional IRA contribution, not a deductible one.
When a non-deductible Traditional IRA contribution is converted to a Roth IRA, there is no tax consequence because the contribution was made with after-tax money.
Try going through the section again with this in mind and see if you have more questions.
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‎February 20, 2024
1:39 PM