- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
I have the same issue, which does not correctly classify the Roth IRA backdoor contribution. I should not be taxed on my contribution. I moved $2600 of non-deductible funds to an IRA and immediately moved the same $2600 to my Roth IRA. Turbo tax says I owe tax on a portion of that $2600, meaning I have been taxed twice on the same amount (double taxation). I didn't do a rollover. I can see the workflow in my broker account, and that the same transfer has been classified as a conversion to a ROTH IRA. The broker should have noted on the 1099R that it was not taxable; they clearly know that, since they also checked that the taxable status was not determined.
‎April 12, 2025
6:44 AM