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Deductions & credits
Update...figures, as soon as I post I find the problem.
For a true backdoor Roth contribution, you must:
start with a zero balance in your traditional IRA before beginning this adventure
end with a zero balance in your Traditional IRA by converting it all to Roth
Even though it asks you for your IRA value at the end of the year, you must enter $0, as that is what is left after the conversion (even if your IRA has other funds in it). Instructions are not clear to do this.
March 13, 2024
4:15 PM