DanaB27
Expert Alumni

Retirement tax questions

To verify, you made a $9,000 nondeductible contribution and converted $9,000 from your traditional IRA to Roth IRA in 2021, correct?

 

Please do not enter that you removed $3,000 on the penalty screen during the IRA contribution interview otherwise $3,000 of the conversion will be taxable. Since you stated that your value of the traditional IRA was $0 TurboTax won't calculate the 6% penalty on Form 5329 part III.

 

@wk9458

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