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When recharacterizing from a Roth to Traditional IRA and then converting back to Roth (back door Roth), how do I capture this in TurboTax?
I contributed $6500 (over 50) to a Roth IRA in June 2017 then sold stock in Sept that took my income over the limit for Roth contributions. I recharacterized the amount to a traditional IRA (now worth about $6900) and waited a day and converted it back to a Roth, a so called back door Roth. I do not own any other Traditional IRAs and my balance in this Trad IRA is now zero. All of the money i contributed was after tax dollars but i cannot find out how to capture this in Turbo tax as as soon as i start entering numbers my refund number plummets which is clearly not right. What am I doing wrong? Thanks
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‎June 1, 2019
5:08 AM