Why am I getting taxed on a 2017 backdoor conversion to a Roth IRA that had no increase in basis?

In 2017, I made a $5500 non-deductible (after tax) contribution to my IRA and immediately did a backdoor Roth conversion for the same amount so there was no increase in the value. Yet, when I import the 1099-R into Turbo Tax, my tax liability increases as if the entire $5500 is taxable.

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Why am I getting taxed on a 2017 backdoor conversion to a Roth IRA that had no increase in basis?

You need to check the box 7 code J and P. If not, then you need to let the system know that you have basis in the $5,550 that is being inputted from your 1099-R.

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Why am I getting taxed on a 2017 backdoor conversion to a Roth IRA that had no increase in basis?

Entering in the basis did the trick. Thank you!

Why am I getting taxed on a 2017 backdoor conversion to a Roth IRA that had no increase in basis?

You need to check the box 7 code J and P. If not, then you need to let the system know that you have basis in the $5,550 that is being inputted from your 1099-R.