Been trying to find a solution for this, but haven't found something that seems to be correct.
I have a Tradition IRA from a 403B roll over from years past that had a basis of $2000. This is all pre-tax dollars.
This year I contributed 6500 in post-tax dollars and then soon over rolled everything over to a Roth IRA. The remaining balance of the Traditional IRA is 0.
My expectation is for this to be reflected on Form 8606 and a taxable amount of $2000 on 1040 Line 4b. Yet, I am unable to make this happen.
I have a single 1099-R from the firm. I first tried to enter in once and then tell turbotax that I did a combination of rolling over and converting. In my mind it should really be that easy. However, I got the warning that TurboTax cannot handle this and requires the 1099-R to be entered twice -- once with the post tax money and once with the pre tax money. I do this, reflecting all the same info on the 1099-R except the amount difference, yet the Form 8606 still doesn't look accurate and there are a bunch of "*" by different entries. There is still not a taxable amount reflected on 1040 Line 4b.
Could someone please walk this process through and explain it to me like I am 5?
Thanks.
