You will pay a lot of taxes if you convert a traditional IRA to a Roth IRA. The amount you choose to convert will be taxed as ordinary income. This additional income can push you into a higher marginal federal income tax bracket.
You may use the following TurboTax products to report the conversion:
Note: The higher the version, the more step-by-step guidance you'll receive.
See How do I enter a backdoor Roth IRA conversion?
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