Please advise.
This year my husband and I decided to contribute money to a backdoor roth. We both opened traditional IRAs and converted the 6k contributions each to a roth. Shortly thereafter I discovered that my husband has a traditional IRA from years ago that he had forgotten about with 2700. He is now trying to roll over the old IRA money into his work 457.
How do I report the old IRA money in turbotax? I realize that because of this we now have to pay a penalty (prorata rule), does turbotax automatically do this? I did not see options to report this.
Thank you for the help!
