I am using turbotax online and am having trouble with entering the backdoor roth IRA. I am following the instructions in the help section. The IRA deposit and conversion to Roth IRA were both completed in 2022. First, I enter the non-deductible traditional IRA contribution in the Deductions and Credits section. Then I move to the Wages and Income and enter the 1099-R including the complete deposit in the Roth account. The original donation to the traditional IRA was $6000 while the distribution to the Roth IRA was $6000.30. However, when I look at the Preview of 1040, I see an IRA distribution of $6000 (line 4a) and a taxable amount of $5327 (line 4b, which is incorrect). And on Schedule 1, line 20 the IRA deduction is blank (which is correct).
I'm not sure why the value of $5327 is showing up on line 4b. Any ideas?
Note: I have tried deleting and re-adding both steps with no change in the result.
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I figured it out ... I had incorrectly entered the ending value of the account as something >0. Once I corrected that it worked properly.
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