Does a contribution count in a roth IRA even though I did a back door conversion? (I contributed to traditional IRA first)
I contributed to my traditional IRA then did a conversion to a roth IRA. I already entered how much I contributed to my traditional IRA on Turbo Tax. Now it's asking me how much I contributed to my roth. Don't know if it's technically 0 because I contributed to my traditional first.
021105
2 Replies
dmertz
Level 15
Mar 9, 2024 8:15:03 PM
The amount that you contributed to a Roth IRA is $0. Your contribution was to a traditional IRA, not to a Roth IRA. Do not tell TurboTax that you "switched" your traditional IRA contribution to be a Roth IRA contribution instead.
Bsch4477
Level 15
Mar 9, 2024 8:17:00 PM
The conversion was not a contribution and if you contributed the maximum amount to the traditional IRA you couldn’t contribute to the Roth anyway.