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Retirement tax questions
for the problem when TT shows Penalty for Tradition IRA to Roth IRA conversion, explanation is provided to only enter information to the INCOME side and nothing is to be entered into the DEDUCTION side. However, the problem is created by entering information on the DEDUCTION side and no guidance is provided how to remove the wrongly entered information. I have since found out how to remove the information from the DEDUCTION side. The steps are to down to the RETIREMENT AND INVESTMENTS / Traditional & Roth IRA Contributions, press UPDATE, on the new screen remove check marks from boxes for Traditional IRA and from Roth IRA, and then check the box for None of the above; then click Continue.
‎April 3, 2022
1:28 PM