Do you have the penalty on Form 5329, Part IV? To confirm, you only entered the traditional IRA contribution, you didn’t a Roth IRA contribution, correct? I’m more than happy to look at the file (which will only show the numbers but not any personal information).
@omkarprabhu
@prime2311 To verify, your traditional IRA didn’t have any deductible contribution in it before making the nondeductible contributions? You need to have an empty traditional/SEP/SIMPLE IRA before you start with a backdoor Roth. If you have deductible funds in it each distribution/conversion will have a taxable and nontaxable part. Did you contribute in 2021 for 2021 and convert it right away in 2021? If you provide more information, I’m happy to try to help.
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