Hello,
Can some one please help me with this:
You'll need to sign in or create an account to connect with an expert.
1. To clarify, you bought a home and closed on it in 2023. Generally, on your primary residence, you can only deduct mortgage interest (reported on Form 1098) and property tax paid in 2022. You only will be able to do this if you use the Itemized Deduction instead of the Standard Deduction. Please see Can I deduct my mortgage interest? for additional information.
2. Please follow the steps below to enter your nondeductible traditional IRA contribution for 2022 and the conversion to Roth IRA.
To enter the nondeductible contribution to the traditional IRA:
To enter the 1099-R conversion:
1. To clarify, you bought a home and closed on it in 2023. Generally, on your primary residence, you can only deduct mortgage interest (reported on Form 1098) and property tax paid in 2022. You only will be able to do this if you use the Itemized Deduction instead of the Standard Deduction. Please see Can I deduct my mortgage interest? for additional information.
2. Please follow the steps below to enter your nondeductible traditional IRA contribution for 2022 and the conversion to Roth IRA.
To enter the nondeductible contribution to the traditional IRA:
To enter the 1099-R conversion:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
zhaq7
New Member
frankiestylez
Level 2
larockmanhere
Returning Member
avebury42-gmail-
New Member
FreakingTax
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.