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dmertz
Level 15

I entered info for my 1099R that is from my backdoor roth IRA and yet it is reducing my refund amount. Why is it affecting how much my return will be?

There is no penalty on Roth conversions.  The result of converting $6,001 when you have $6,000 of basis that TurboTax automatically includes on Form 8606 after you enter your traditional IRA contribution made for 2019 is $1 of taxable income which is included on Form 1040 line 4b.  A $1 increase in taxable income is unlikely to change your income tax liability since the tax tables are laid out in incremental steps of income.

I entered info for my 1099R that is from my backdoor roth IRA and yet it is reducing my refund amount. Why is it affecting how much my return will be?

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