Live "TAX EXPERTS" could not help me figure out how to do backdoor roth conversion

[user17715481922]

Did a backdoor $7000 Roth conversion with the $7000 nondeductible traditional ira contribution.

TurboTax Desktip Premier

After entering entire ira contribution amount of $8000 as nondeductible, I am seeing part of the money $7677 on line 14 & 18 of form 8606 as taxable. The line 8 is blank.  ( Form 1040 line 4b is $7677 .) 

I googled and followed the TurboTax instructions for backdoor roth and my form 8606 line 8 is still blank.

The so called tax "experts" i paid money for was a complete waste of time...could not help me at all.

any advice would be welcomed.

[baldietax]

these are the instructions for backdoor Roth

https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-...

if line 8 is blank then you likely have some issue with the 1099-R entry or the questions after the 1099-R to classify it as a Roth conversion.  Without that it's triggering a distribution.

if you IRA balance was not zero after the backdoor Roth and has pre-tax money then the backdoor may not be fully tax-free and you'll carry over some basis for future years.

[user17715481922]

I set up a new traditional ira conversion account just for this purpose and moved out the entire $8000 from that account to roth 

[user17715481922]

I selected 'yes' to nondeductible IRA contribution question

and I did select the choice that i moved all the money to roth

[baldietax]

and you don't have any other IRAs, your answer to line 6 is $0?

[DavidD66]

.Please clarify, do you have any other IRAs, including 401(k) or other retirement plan rollovers?

[baldietax]

I would go back thru the 1099-R entry again or as last resort you could even delete it and re-input.  you should be able to double-click on line 8 and it will link to 1099-Rs, if none are showing and that line is $0 then I think something is wrong with the 1099-R.

[user17715481922]

I do have other traditional ira 

i opened a new traditional ira just for conversion purposes

[user17715481922]

form 8606 line 6 shows 0

[baldietax]

the market value / basis / pro rata calculations are not specific to the account you use for the backdoor Roth, your IRAs are treated in aggregate across all accounts.

it might be easier if you can post a screenshot of your 8606 just line 1 onward not the personal info a the top

but try fixing your 1099-R / Line 8 first.

[baldietax]

in forms mode you can check the 1099-R also it should look like this