@bartzumbari wrote:
I did this backdoor conversion: contributed $7000 to IRA, then immediately converted to a roth (I started and ended the year with $0 in my IRA). Turbotax is still saying I have $7000 in taxable income. Turbotax even gives me the little blurb "good news, you don't owe extra tax on this money" and yet it still puts $7000 in line 4b of the 1040.
I've done this in previous years exactly the same way and it worked. This year is different for some reason.
Could this be a bug?
There is no bug.
You probably did not enter the $7,000 contribution into the IRA contributions sections and mark it non-deductible.
If you did then it would be on the 8606 form line 1 (and not also on line 4).
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
