jhlight12
Returning Member

Retirement tax questions

Were you able to figure this out? I am following the steps in TurboTax's linked article as well, and it appears to not be handling the backdoor Roth conversion correctly.

 

I contributed 7000 in 2024 to a Traditional IRA, non-deductible. I converted 7004 to Roth in the same year. I should only be taxed on $4, yet my "taxes owed" is going up by $1500 after entering my 1099-R. I don't understand where I'm going wrong despite following the online guide.