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Retirement tax questions
Please check your IRA contribution entries as badietax mentioned.
Please see the following steps:
- Login to your TurboTax Account
- Click on "Search" on the top right and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select "Traditional IRA" and “Roth IRA”
- Enter $2,800 for the Traditional IRA contribution
- Answer ‘Yes” on the “Roth IRA Contribution” screen
- Answer “No” to “Is This a Repayment of a Retirement Distribution
- Enter the Roth contribution amount of $4,200
- Answer “Yes” to the recharacterized question on the “Did you recharacterize any of the Roth IRA contributions for 2025 over to a traditional IRA contribution?” screen and enter the contribution amount (no earnings or losses) of $4,200 on the next screen.
- TurboTax will ask for additional information for the explanation statement
- On the screen "You have deductible traditional IRA contributions of $XXX" enter the amount you want to make nondeductible (If you have a retirement plan at work and are over the income limit it will be nondeductible automatically)
Please see How do I enter a backdoor Roth IRA conversion? for additional information.
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9 hours ago