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Get your taxes done using TurboTax
Thanks @DanaB27 .
Unfortunately, my Roth IRA custodian said they couldn't withdraw the excess because of some issue tied to the backdoor conversion. Based on what you are saying, I would have to pay the 6% penalty on the nondeductible $500 that I first put into my normal IRA then pay the penalty again on the same $500 that was converted to the Roth? If so, how would that get entered into TurboTax?
March 10, 2024
1:33 PM