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Retirement tax questions
"I've done this in previous years without impacting refund amounts."
A backdoor contribution is done by converting aTrad IRA contribution to a Roth IRA
Step 1 enter the Trad IRA amount of $7,000 and make sure you have elected "Non-deductible".
" and then inputting into Income for the distributions. "
There is no income if you do a conversion of non-deductible basis in a Traditional IRA to a Roth IRA
Since you converted an extra $14, the Form(s) 8606 should result in a taxable amount of $14.
‎January 15, 2025
10:23 PM