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I converted my traditional IRA to a Roth IRA in 2021 and it is listing the income in my total income, line 9

All amounts were rolled over equally and this should not be included in income or be taxable. HELP!
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1 Reply
MinhT1
Expert Alumni

I converted my traditional IRA to a Roth IRA in 2021 and it is listing the income in my total income, line 9

A conversion of a Traditional IRA to a Roth IRA is taxable at ordinary income rates, unless the Traditional IRA has basis in which case the amount of basis is excluded from taxation.

 

Please see this IRS Rollover chart.

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