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Retirement tax questions
Thank you.
After I enter the 1099-R distribution/conversion, the Federal Tax Due is increased by around $3K ($12,000 contribution to IRA for 2 years). But the money I transfered to IRA is from my checking account which is purely after tax. Why do I need to pay for extra tax here? Is that normal? or do I enter anything wrong?
‎April 10, 2022
4:55 PM