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Get your taxes done using TurboTax
here’s a curveball. My wife during 2021 rolled over her pretax deductible IRA from vanguard to fidelity let’s say $10,000. However, to the advice of my financial planner we contributed let’s say nondeductible $5000 to traditional then converted this cash amount to Roth within the same year. This whole $5000 is now in the Roth, however the original $10000 pretax still remains in her traditional. How does this affect reporting for TurboTax 2021? We shouldn’t be paying any tax on the remaining amount in traditional correct? Thank you
February 24, 2022
7:51 AM