- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Should I select Roth IRA under Deductions & Credits for Backdoor Roth IRA situation?
- I contributed $6,500 to Traditional IRA for tax year 2023 between 1/1/2023 and 12/31/2023
- Converted entire amount($6,500) to Roth IRA for tax year 2023 between 1/1/2023 and 12/31/2023
- I did not make any direct contributions to Roth IRA
Basically, I did backdoor Roth IRA contribution because I don't qualify for regular Roth IRA contribution.
In the below screen, should I select Roth IRA or not? When I selected Roth IRA and continued, it shows I owe penalty.
‎April 7, 2024
8:08 PM