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Get your taxes done using TurboTax
What you did is a conversion from a Traditional IRA to a Roth IRA which is usually taxed in the tax year you do it.
A backdoor Roth IRA takes advantage of a non-deductible contribution to the Traditional IRA ahead of the conversion.
If the entire value of the Traditional IRA is basis, then the conversion is tax-free.
‎June 18, 2022
1:55 PM