2495856
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Back door IRA help needed

I used AFTER TAX money to purchase a $7000 IRA and then subsequently converted it to a ROTH IRA.  When I input the information into Turbo Tax - it seems to want me to pay taxes AGAIN on the $7000 (that I already paid tax on) as it reduced my refund amount once I entered the information.  What am I doing wrong?  How do I enter it properly in Turbo Tax?  (PS - I checked and I met all of the qualifications for the "back door conversion" of the IRA to ROTH).  Thank you 😄

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
jtax
Level 10

Back door IRA help needed

See this TT FAQ 

 

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-a-backdoor-roth-ira-convers...

 

in particular pay careful attention to the "Yes, make part of my IRA contribution nondeductible" question.

 

the FAQ is seems to be talking about doing the IRA contribution and conversion in the same tax year. If it's in a different tax year the procedure may be a little different. Please ask again in that case it if doesn't work.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question