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Traditional IRA and Roth IRA
I opened Traditional IRA in 2018 and deposit $5500 after tax into the account , in 2019 I again deposit $5000 after tax into Traditional IRA and did conversion of $10000 to Roth IRA.
To my understanding , since my contribution to Traditional IRA is after tax money, when I did conversion to Roth IRA I don't need to pay Tax.
My question is when I enter the IRA basis and value on Turbo tax form, it calculate that I need I have taxable IRA distribution and I have no idea how it came up that value and if I entered something incorrectly ?
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‎July 4, 2020
2:11 PM