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Retirement tax questions
HI,
Thanks for the article. However, it did not seem to work for me correctly. It did not prorate my IRA basis properly.
In my case, I had over 40K in my IRA with 1170 in non-deductible. I moved about 39K which should mean around 1120 should be moved to Roth without any tax liability. Later, I also contributed 6000 in non-deductible contributions. However, this contribution happened AFTER the rollover so my impression is that it does not count towards calculations for proration. Please correct me if I am wrong here.
In my return, it shows that I have about 5900 in non-taxable contributions. The worksheet does not show any calculations. I am confused as I think I am paying less for 2019.
Regards,
Deepak
‎July 9, 2020
11:32 PM