in Sep 2023 (I am 61) I contributed $7500 into my Traditional IRA (started with a $0 balance), the next day I moved that money to my Roth IRA. Turbotax is telling me that only $3300 of the $7500 was allowed and the remaining is Excess Contributions subject to a 6% penalty.
The $7500 contributed to the Traditional IRA was After Tax dollars.
Where am I going wrong with Turbotax data entry since there should be no issue converting this into the Roth from the Traditional and I fill out a form 8606 stating that the $7500 would not be pre-tax.
