I opened a Traditional IRA account in 2024 and moved $7000 (after tax money). Once the fund was available in IRA account, I moved $6900 to Roth IRA.I received a 1099-R for the above $6900 distribution and Turbotax is calculating tax for the whole $6900
Is the backdoor Roth IRA considered a Rollover or a Conversion? If I chose Rollover, I am not taxed. If I chose Conversion, I am charged with tax.
Any help is appreciated.
