Retirement tax questions


@Anstoss wrote:

Thanks everyone for your feedback. Yes it is after tax contributions to traditional IRA and then backdoor conversion to Roth. 

 

If I put 7 [which is about conversion to Roth], turbotax will show no tax on the conversion.  Could this work or I have to do the two parts as post above?

 

Thanks


You have to do the 2 parts.    You cannot change the code.  (Code 7 has nothing to do with a Roth conversion and in your case is not different than code 2).

**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.**