- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
When entering the traditional IRA contribution, be sure to answer No when asked if you "switched" (recharacterized) the contribution to be a Roth IRA contribution instead. The Roth conversion is entered separately by entering the From 1099-R that reports the distribution from the traditional IRA.
Also, to be eligible to make a traditional IRA contribution you must have sufficient compensation on a W-2 of from self-employment to support the contribution.
‎February 15, 2024
4:46 PM