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Roth IRA conversion not showing up correctly in Tax Form
Hi,
I put $6000 in my traditional account on Fidelity and next day, converted that into Roth account. (Transferred the money from Traditional to Roth). This money is from the salary I receive. I.e. it is already taxed.
On form 1099-R , 2.a (Taxable Amount) is stated as $6000 and 2.b Taxable amount not determined is selected.
However, after following the steps mentioned here : https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-a-backdoor-roth-ira-convers...
I am still seeing 4.a and 4.b in 1040 as $6000. I.e. It seems like I am being taxed twice on it.
Any recommendations on how to fix the issue?
Tagging to get eye balls : @CatinaT1 , @JotikaT2 , @BillM223
‎June 14, 2020
10:04 AM