I converted my 401K to a 401K Roth in 2020. I entered the 1099-R with the code G that I received from my financial institution into Turbo tax.
In 2020 I also contributed to a Roth IRA. Turbo tax is indicating that I am not eligible to contribute to a Roth IRA and is including the taxable portion of the 401K to 401K Roth conversion in the MAGI calculation for Roth contribution eligibility.
I know that Traditional IRA to Roth IRA conversions do not impact your eligibility to contribute to a Roth IRA and that you fill out Form 8606 to document that calculation.
Are inplan 401K to 401K Roth conversions supposed to impact your eligibility to contribute to a Roth IRA?
