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Why am I Getting taxed for the whole amount of nondeductible IRA contribution converted to Roth IRA?
I made annual nondeductible contribution to traditional IRA $8000, and converted to Roth IRA in Turbo Tax 2024. The base is zero both at end of 2023 and end of 2024. Turbotax taxes the entire amount of $8000 even it is after tax contribution. There is no 8606 form generated. Why?
I did exactly same for 2023 and Turbotax didn't tax me for the conversion amount and generated Form 8606 correctly.
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‎February 10, 2025
3:16 PM