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Should I select Roth IRA under Deductions & Credits for Backdoor Roth IRA situation?

- I contributed $6,500 to Traditional IRA for tax year 2023 between 1/1/2023 and 12/31/2023

- Converted entire amount($6,500) to Roth IRA for tax year 2023 between 1/1/2023 and 12/31/2023

- I did not make any direct contributions to Roth IRA

 

Basically, I did backdoor Roth IRA contribution because I don't qualify for regular Roth IRA contribution.

 

In the below screen, should I select Roth IRA or not? When I selected Roth IRA and continued, it shows I owe penalty.

 

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1 Reply
dmertz
Level 15

Should I select Roth IRA under Deductions & Credits for Backdoor Roth IRA situation?

You do not need to select Roth IRA.  If you do select Roth IRA, the only information that you might enter regarding the Roth IRA is the year-end value, if TurboTax asks for it.  You have no Roth IRA contribution to enter in this section.

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