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Retirement tax questions
were you trying to do a backdoor Roth and expecting it to be nontaxable. if so then you probably input something wrong in the 1099-R or nondeductible contribution interviews in TT.
see detailed steps here
in particular you need to make sure the IRA contribution is input as a non-deductible contribution; and for the 1099-R there are questions about "what did you do with the money", ensure you select "I did a combination of rolling over, converting, or cashing out the money" and there is question for how much was rolled over to a Roth.
check the outcome on Form 8606 in your return - this is where the basis and rollover is tracked and tax calculated.
2 weeks ago