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After-tax conversion from traditional IRA to Roth IRA
In 2023, I made a post-tax contribution to my traditional IRA, and I did not get a tax break for this money. In 2024, I moved ONLY the original after-tax contribution from my traditional IRA to my Roth IRA. When I talked to my financial institution in order to do this transfer, they explained that since it's AFTER-tax money, the transfer is NOT a taxable event. However, I would need to report it on form 8606. I did get a 1099-R from my financial institution and uploaded it to Turbotax. When I look at my final numbers, Turbotax is saying I have to pay taxes on part of the money I transferred from the traditional to Roth, and it doesn't look like Turbotax is triggering the 8606 form. How can I fix this?
‎April 12, 2025
3:51 PM