I performed several things last year and want to make sure I didn't totally screw up my tax situation by doing so:
- Rolled-over a previous employer-sponsored 401k into my Traditional IRA
- Made excess contributions to my Roth IRA, which I then recharacterized as Traditional (minus capital loss)
- Made post-tax contributions to my Traditional IRA, which when combined with the Roth contribs equals $6000
- Backdoored the $6000 (minus the loss that occurred in the Roth) from the Traditional to the Roth
- My Traditional IRA balance was not $0 at the end of the year due to the 401k rollover into the traditional.
I have to the best of my knowledge supplied every one of these transactions to TurboTax
- 1099-R for the 401k -> IRA
- 1099-R for the Roth IRA -> Traditional IRA recharacterization
- 1099-R for the Traditional IRA -> Roth IRA conversion
However, when I check my form 1040, Line 4b is showing a taxable distribution of nearly $6000 which I am not expecting to see as I understood all of my actions to be nontaxable. Did I do something wrong in TurboTax or did the 401k rollover mess up my ability to do the backdoor in a nontaxable manner?
