I'm retired and more than 72 1/2. My income comes from my RMD, SS, and pension, none of which are considered a salary. I converted some of my RMD ($7000) into my Roth IRA. I completed the section (Retirement plans and SS) as suggested and it came out fine. Do I show the $7000 conversion amount in the ROTH contribution section of (Retirement and investments)? (Y/N)
If I do, TT tells me I have an excess contribution of the amount I converted and I will owe a 6% penalty each year the money remains in the IRA. Looking in the "learn more" section it appears that this is only for working individuals. Is there another help section for retirees that explains this better?
