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IRA conversion to Roth IRA
Financial Advisor recommended I move some money from my traditional IRA into a Roth IRA, as much as I could move without pushing myself into a higher tax bracket. Now, turbo tax is telling me I am under penalty because I contributed over the allowable $7,000 for my age. TT is telling me I will incur a 6% penalty until I correct this issue. Am I missing something here? Am I giving TT wrong info or was it my Financial Advisor that put me in this mess? Need some guidance
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March 19, 2021
12:21 PM