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Retirement tax questions
Per @macuser_22:
"This so-called “back-door Roth” method ONLY works if you have NO OTHER Traditional IRA accounts. If you do, then the non-deductible part must be spread over ALL accounts and cannot be withdrawn by itself. Only if you started with NO Traditional, SEP & SIMPLE IRA and ended up with a zero amount in ALL Traditional, SEP & SIMPLE IRA accounts will this Roth conversion not be taxable."
Since we can't see your tax return in this forum, click this link for more info on Non-Deductible IRA to Roth Conversion that may help you.
You can also request a Line by Line Review if you need more help.
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February 22, 2021
1:55 PM