Upon reporting a Trad IRA contribution (non-deductible) on your tax return, you can then also report a Roth conversion of the contributed amount for net tax of zero, unless your IRA previously had value exceeding basis.
In that case, it can't be done tax free.
to report a non-deductible contribution, Form 8606 must be attached.
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Since you converted an extra 300, you pay tax on that. there is no penalty for doing that.
@TimTheLandlord
