About PNY61

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Re: Backdoor Roth IRA and "Income Too High"

Yes, both actions were in 2023.The previous expert's response was the actual fix for the issue. The issue afterwards was my misunderstanding of the Pro Rata rul...

PNY61

Updated Feb 25, 2024
Re: Backdoor Roth IRA and "Income Too High"

Can't clear and start over, so need to be able to fix it as is.I'm wondering if something happened when forms were automatically pulled in from the provider.

PNY61

2

Updated Feb 25, 2024
Re: Backdoor Roth IRA and "Income Too High"

Thank you! On the Income side, I had a non-zero value in "Outstanding Characterizations". Corrected that to 0. Unfortunately, even though Form 8606 is updated, ...

PNY61

3

Updated Feb 25, 2024
Re: Backdoor Roth IRA and "Income Too High"

A little more info on the 8606: Line 13 has a value in it but it is not the same as the amount on Line 3. Not sure where the value on Line 13 is coming from.

PNY61

Updated Feb 25, 2024

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Date Registered	‎February 24, 2024 4:17 PM
Date Last Visited	‎February 28, 2024 7:15 PM
Total Messages Posted	5

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