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It depends. From a tax standpoint, the amount of your contributions from your nondeductible IRA are not taxable when you roll it over (or convert it). However, any growth (interest or otherwise) is taxable. But, to be sure, the entire amount of the distribution is not taxable, so there are some entries to make in the system. Make sure you do the following on the 1099-R entry screen:
You will still have a few questions after this, but you will see the portion of your distribution that was from your nondeductible contributions will have been excluded from your taxable income.
It depends. From a tax standpoint, the amount of your contributions from your nondeductible IRA are not taxable when you roll it over (or convert it). However, any growth (interest or otherwise) is taxable. But, to be sure, the entire amount of the distribution is not taxable, so there are some entries to make in the system. Make sure you do the following on the 1099-R entry screen:
You will still have a few questions after this, but you will see the portion of your distribution that was from your nondeductible contributions will have been excluded from your taxable income.
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