Just to clarify, you entered your traditional IRA contribution following the steps above and that reduced your refund/ increased your tax due? (If you cannot deduct any amount because of your income then you will just get the message that it is nondeductible instead of the instructions in step 10)
Did you get any warning about an excess contribution? That could trigger an additional 6% tax penalty. Please be aware the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:
- $6,000 ($7,000 if you're age 50 or older), or
- If less, your taxable compensation for the year
Also, to verify you did not enter the conversion as a contribution? The conversion will only be entered in the 1099-R section.
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