I'm completely baffled how to enter all this in turbo tax.
1. In 2023 I contributed $6500 to a Roth Ira -- and i made it nondeductible claiming the $6500 basis.
2. At the start of 2024 (long before April 15) I realized my income limits would not let me do the Roth, so I recharacterized the $6500 plus the $1500 growth ($8000 in total) to my traditional IRA.
(I got a 1099R with the roth account number for this $8000 with distribution code R)
3. Then one day later in 2024 I converted the $8000 back to Roth from the traditional
(I got a 1099R for the traditional account for the $8000 with distribution code 2). This is the backdoor thing.
From a big picture point of view, I figure I should pay tax on the growth (the $1500) in 2024
because had I simply put the $6500 in in 2023 and then converted $8000 out in 2024 that's what would happen.
However, I have no idea how to tell TurboTax all this happened, or what parts TurboTax needs to know about.
Any help is welcome.
