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Retirement tax questions
Nondeductible IRAs are converted into Roth IRA with out any further tax burdens , which is called backdoor roth conversion. involves two steps: pay to non deductible IRA and then convert it into Roth IRA immediately. So, that money is converted ,( not distributed). Turbotax is showing it also as income, even though you can make turbo tax not to estimate tax on that. But, turbo tax is showing it along with other income as though it is additional income, which may cause problems with MA Revenue dept.
March 6, 2022
3:29 PM