2280675
Every year I have been moving 10 to 15k Traditional IRA money to Roth because I would watch the refund meter go down as I entered the distribution then go back up when I confirmed that money went to an IRA. This year seems the opposite effect and I don't understand why. Any ideas?
IE: if I take the distribution and don't put it in a Roth my refund goes up?
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A rollover is moving money money from a before-tax account to another before that account such as one Traditional IRA to another Traditional IRA.
If the money is moved from a before-tax account (like a Traditional IRA) to an after-tax account (such as Roth IRA) then that is a conversion and the tax must be paid.
or did you do a back-door ROTH conversion. contribute to IRA as nondeductible. then move the money from the IRA to a Roth.
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