Looking for help, please.
I have contributed $7,500 to Traditional IRA then converted to Roth IRA, since i expected my income to be over the limit ( I was laid off so it wasn't but that's how i did it in March 2023).
There was a small $10 gain between TIRA contribution and Roth IRA conversion ( which somehow i didn't pay attention to and converted the whole $7,510).
On my 1099 R the gain field is left blank , but for the taxable line it says $7,510, gain included).
Can you please help me with how to enter this in Turbo tax. Right now, if i leave gain blank I am getting the message of penalties of 6% and more complicated language.
I called Vanguard, since i read that i can leave the $10 for next year, but they told me that i am not actually over the limit, since my contribution is $7500 and the $10 is the gain, and i need to talk to Turbo tax to lean how to handle that.
Thank you for reading and any advise is appreciated.
