When I look at my income I see my IRA distribution of $5,500 for 2018 is "taxable". Can someone elaborate on what this means exactly? The IRA contribution of $5,500 was made with post-tax dollars in 2018. This amount was converted to a Roth IRA in 2018. I just want to make sure I am not being taxed on the entire distribution of $5,500. My understanding is I am only taxed on any gains made since the contribution, and if thats true, that I do not need to note it somewhere in my return.
