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Retirement tax questions
Thank you! I did based on your instructions in the previous post
1) Why did my tax payable increase after entering the both the 1099R and non-deductible traditional IRA sections? I thought this is a back-door approach and the tax due should stay the same after entering IRA information.
2) Do I need to enter separate 1099R details for Roth IRA (I receive another 1099R for Roth IRA)
3) Do I need to check off "Roth IRA" section under Deductions/Credits and enter separation Roth IRA details on top of the Traditional IRA already done as your instructions?
4) For Tell Us the Value of Your Traditional IRA section, would outstanding rollover be "0" and outstanding recharacterization be 3,674?
March 22, 2023
6:22 PM