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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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.
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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