TurboTax has this question in the section for tracking my Roth IRA cost basis:
"Enter Prior Year Roth IRA Contributions"
"Confirm [name]'s net regular contributions prior to 2024 that remain in [name's] Roth IRA. Learn More"
"Note: Do not include earnings and losses or amounts converted from a traditional IRA. Learn More"
Then there is a field below that says "Roth IRA Contributions prior to 2024". This seems to have auto-filled (based on my previous years of using TurboTax) with not just my direct Roth IRA contributions, but also my mega backdoor Roth amounts (i.e., after-tax 401k → Roth 401k → Roth IRA).
I understand that the mega backdoor Roth should get added to my Roth IRA's cost basis in general, but I'm getting confused about the wording of TurboTax's question and whether the auto-filled amount is correct. My understanding is a mega backdoor Roth is a rollover from a Roth 401k and is NOT considered a contribution to the Roth IRA -- but TurboTax is including it in the auto-filled amount where it is literally asking for "Roth IRA Contributions".
Is the page incorrectly worded and the amount is correctly included -- or is the page worded as intended and the amount is incorrectly included?
