Hello,
Each year I convert the max IRA contribution and convert it to a Roth. In the process of doing so, my traditional IRA has accumulated interest. Last year the interest was 0.40 and this year the fair market value reported in form 5498 is 1.31. I suppose that I need to now enter this amount as Value of your traditional IRA as of Dec 31.
Question: Why is this then showing up later in the summary as a $1 taxable distribution? The $1.31 is still in the traditional IRA.
Thanks in advance
