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Retirement tax questions
"Now Traditional and Roth IRA contributions show 7000."
There was no ordinary Roth IRA contribution. The only contribution that should be present under Deductions and Credits is the $7,000 traditional IRA contribution.
The $7,000.85 moved to the Roth IRA as a Roth conversion is entered via the Form 1099-R entry.
On the page that lists the Forms 1099-R that you entered, click the Continue button and proceed until TurboTax asks you to enter the 2024 year-end value of your traditional IRAs. Assuming that you have no other traditional IRAs, that value will likely be less than $21 if the present value in the traditional IRA is $21.
3 weeks ago