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Get your taxes done using TurboTax
Thank you for the quick response.
I have come across a page which asks the following question:
Enter the total value of Traditional, SEP and simple IRA as of Dec 31, 2020.
I got a Form 5498 from my retirement brokerage with a balance of $6000. This was my non deductible contribution for 2020. This amount was only converted to a Roth in Jan 2021. (so the balance in my traditional was $6000 on Dec 31, 2020. This was a post tax contribution)
When I answer $6000 to the above question on that page, my taxes owed goes up. What should be the amount to fill here? Should I be paying taxes twice on the $6000?
May 13, 2021
9:19 AM