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Retirement tax questions
Oops... I spoke too soon.... now I see where I'm getting confused ... Here is a corrected timeline:
From ~ 3/1/2022 - 2/20/23: My IRA had a balance of $0.02
02/21/23 - Made a NON- Deductible contribution of $6,000 to my IRA FOR THE YEAR 2022
02/21/23 - Converted $6,000 of that to my Roth IRA
01/15/24 - Made a NON- Deductible contribution of $6,500 to my IRA FOR THE YEAR 2023
02/15/24 - Converted $6,500 of that to my Roth IRA
the 1099-R is for the 2022 IRA conversion....
so when I enter $6,500 into the box that says "Tell us how much you contributed between Jan - April 2024... it is making me pay taxes on it.
should Box2a on the 1099-R have $6,000?
Further guidance would be greatly appreciated !
‎February 20, 2024
4:35 PM