Hi dmertz, I have a related problem regarding this Roth conversion. If I made an non-deductible "excess" contribution to Traditional IRA and then converted everything from IRA to Roth IRA. It appears that there is no penalty to the excess contribution because the line 17 on 5329 says that the penalty is 0.06 * min(excess contribution, value of trad IRA), and the value of tradition IRA is zero(!) because everything is converted to Roth IRA. What exactly is the correct way to report this excess contribution?
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