
Anonymous
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Retirement tax questions
Thanks.
Just to clarify: The $3000 contribution to Roth IRA become only $2886 when being transferred to Traditional IRA. So are you suggesting me to:
1. Not report the $3000 contribution to Roth IRA. Only report $2886 contribution to Traditional IRA.
2. Report $3000 contribution to Roth IRA. Also report $2886 contribution to Traditional IRA.
If I follow #2, my total contribution to all IRA for 2021 will exceed $6000 (due to other contributions to Traditional IRA that I made for 2021) and I think TurboTax will make me pay the fine.
March 22, 2022
6:30 PM