how to heck do you enter this? Every time i try, it increases my overall income and taxes go up by around 1000. Form 1040 Line 4B shows an amount of 6166.52, but I thought it should be zero (or maybe the 166.52). If I am wrong, can i still flip this back to a traditional IRA counting in 2019?
Situation:
Single
Income: ~$185000 (not eligible for deduction)
401(k) through work
Traditional IRA: Deposited $6000 into traditional IRA in June 2019
Conversion to Roth: Converted 6166.52 to Roth IRA in June 2019 ( immediate interest income)
Forms received 1099R.
Box 1 - 6166.52
Box 2 - 6166.52
Box 7 - Code 2
IRA/SEP/Simple checked
Follow up- should box 7 be a different code (G) to reflect that it was a conversion not a withdrawal
