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SEP IRA backdoor roth conversion
Hello,
how do I enter backdoor sep Roth conversion in TT desktop version home and business? Was on for 2 hours with 3 different TT experts and couldn’t figure it out. My 1040 4b is still showing that as Taxable Income. I entered the 1099R correctly and the conversion interview questions. I do not believe I would indicate that I should enter a traditional IRA contribution because it is a SEP and it would then say my income too high to contribute to traditional and have a penalty. Which is why I’m doing SEP. does TT have a bug or am I doing something wrong? Thanks
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March 12, 2022
10:01 AM