I made a $7000 non deductible contribution to an empty IRA in October 2024, and immediately converted to Roth IRA.
I then received a 1099r from Merill, and used it to report to TurboTax as income. In one of the steps it says my income too high, and the $7000 becomes an excess contribution (which is different from my understanding of back door conversion).
I must miss something when I entered these. Can someone please help? Thanks.
