Does former employer SEP IRA value count towards "all my traditional IRAs"? I did a backdoor Roth conversion (rollover of my traditional IRA to Roth IRA). These IRAs are separate from the mentioned employer SEP IRA. However, it asks me what is the value of all my non Roth IRAs. Normally this should be 0, I contributed the yearly limit ($6000) to my traditional IRA (with 0 balance) and immediately converted it to Roth IRA.
However, if I add my SEP IRA value to the total value of all my non Roth IRAs then my tax liability increases substantially (while it is expected to not change since the contribution of the Roth conversion was done with after tax money).
I just want to make sure not reporting my SEP IRA value/basis in this total won't cause any trouble when withdrawing that money in retirement. Thanks!
