Hi,
I generally do the backdoor Roth IRA. I usually do the Traditional (non-deductible) and then immediately convert to Roth within a few weeks. I think in 2018 I forgot to do this, so did 2018 and 2019 amounts both in April of 2019.
So now the 2019 1099-R shows the combined amount, say $12,000.
Although TurboTax indicated "Good news, no taxes owed on this!" (since I checked that the entire amount was rolled over/converted to a Roth IRA), my refund lowered by ~$1,400.
Does this make sense? Did I do something wrong? Is this because my 2019 contribution was only $6,000 and so somehow I got taxed on the other $6,000?
Any guidance you give me would be great!
Thanks!
