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Retirement tax questions
Hi,
An update; after doing what you guys told me the $1000 I was going to be taxed for a non-deductible contribution of my traditional IRA went away! Thank you!
However I had one more question. I also contributed about $1000 to a Roth IRA straight up without converting from a traditional. When it asks me during “deductions and credits” if I contributed to a Roth IRA for 2020, here I input the $1000 correct? When I do this, it adds about $70 in additional tax. Why is this when I put in after tax dollars? Thank you,
March 7, 2021
12:01 PM