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My Roth IRA contribution is being deducted from the amount of my conversion from a traditional to Roth IRA

I am converting $15,000 of a traditional deductible IRA to a Roth IRA. I am also making a $5,000 contribution to my Roth IRA.  Turbotax is reducing the taxable amount of my conversion by the contribution amount. Why is that happening when the Roth IRA contribution should not be deductible?

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2 Replies

My Roth IRA contribution is being deducted from the amount of my conversion from a traditional to Roth IRA

Sounds like you entered the contribution as a non-deductible Traditional IRA contribution and not a Roth contribution.  Delete the contribution and see if the tax is correct.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

My Roth IRA contribution is being deducted from the amount of my conversion from a traditional to Roth IRA

The contribution was entered as a Roth IRA contribution says the deduction is $0.00.  However, on the 1040 the amount of that contribution has been deducted from the amount of the conversion from a the traditional IRA to the Roth IRA.

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