I did a backdoor Roth IRA in April of 2016 for the 2015
Year. I opened the Traditional IRA Contributed $5,500 of after-tax money and
then converted it to a Roth Ira. I have since received a 1099-R from Vanguard
that says I had a distribution of $5,500 in 2016 and the reason is listed as 2
which I believe shows I converted it to a Roth IRA. I had no other Traditional
IRA’s other than the one I converted, I still have no Traditional IRA’s. I want
to do the same thing now in 2017 for the 2016 year. When I put this in to
TurboTax I see the amount owed go up by quite a bit. It looks like it is trying
to tax me for the distribution. How do I put this scenario in TurboTax so that I do not
have to pay additional taxes?
