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Retirement tax questions
No, you will not be able to edit box 4b on Form 1040 directly using TurboTax Online.
If you are trying to report a backdoor Roth IRA conversion and the amount of the distribution from your Traditional IRA is showing as taxable when you indicate that it was converted to a Roth IRA, then there are a couple of things that you need to check.
First, be sure that you have entered the non-deductible Traditional IRA contribution as part of your return or be sure that Form 8606 is showing that you have a basis in the Traditional IRA that is being converted. If there is not a basis from non-deductible contributions, then the Roth conversion will be taxable.
Also, if you have more than one Traditional IRA and there are pre-tax funds in some of the accounts, then at least a portion of the conversion to the Roth IRA will be taxable.
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