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Retirement tax questions
Details below:
I make more than the individual ROTH IRA limit so I was planning to use this backdoor.
May-2019, I opened a new Traditional IRA Account and Funded $6000 (maximum) using my after tax money.
The very next day, I converted the full $6000 to the ROTH IRA.
Now when I try to enter the details on 1099-R it seems to be adding tax on the $6000 which was already taxed from my payroll. Should I even be declaring this on 1099-R?
‎April 8, 2020
9:29 PM