FYI it's from backdoor Roth IRA: Contribute to Traditional IRA -> convert to Roth IRA
1. Entered my 1099-R - which is $6501.51 - in Wages & Income page it's shown as $6502.00. I click on edit and it's the correct amount
2. In Deductions & Credits - it also says from of my conversion $2 is taxable
Is this a bug?
02303
2 Replies
Mike9241
Level 15
Feb 17, 2024 6:56:58 PM
Turbotax rounds in accordance with the tax laws. if you don't like the extra 49 cents you may have to prepare your return manually. most tax software these days, round
you contributed $6500 and earned $2. that $2 is taxable.
backdoorRothIssue
Level 2
Feb 17, 2024 7:10:30 PM
"Turbotax rounds in accordance with the tax laws" - good to know - thank you.
"if you don't like the extra 49 cents you may have to prepare your return manually" I was just asking because I didn't know not because I was outraged by 49 cents