- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
In NJ, total contributions minus total withdrawals is only applicable to the first year calculation for a Traditional IRA.
If you are doing backdoor Roth IRA contributions,converting 100% each time, every year can be considered a "first year"
If you are intending to report an amount of withdrawn Roth earnings, the propose action is a workaround to trick TurboTax into the correct result on your NJ tax return.
That should not be necessary, since 1040 4b should carry over to NJ 20a immediately.
‎April 2, 2024
11:17 AM