dbwhite76
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Thanks, that took care of it.
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The $600.00 shows up on line 23 of the 1040 form. Turbo tax said it was a penalty for converting more than our AGI, which they said was zero. Our AGI is far mor...
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The taxes were paid when the money was converted. TurboTax came up with the Penalty because they Said that our AGI was zero, which obviously it is not.According...
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- Posted Re: We are being taxed $600.00 for a penalty for converting $10,000.00 ($5,000.00 each) to two Ro... on Retirement tax questions. March 18, 2025 6:51 PM
- Cheered Re: We are being taxed $600.00 for a penalty for converting $10,000.00 ($5,000.00 each) to two Ro... for Opus 17. March 18, 2025 6:51 PM
- Posted Re: We are being taxed $600.00 for a penalty for converting $10,000.00 ($5,000.00 each) to two Ro... on Retirement tax questions. March 18, 2025 6:06 PM
- Cheered Re: We are being taxed $600.00 for a penalty for converting $10,000.00 ($5,000.00 each) to two Ro... for SusanY1. March 18, 2025 6:06 PM
- Posted Re: We are being taxed $600.00 for a penalty for converting $10,000.00 ($5,000.00 each) to two Ro... on Retirement tax questions. March 18, 2025 5:00 PM
- Posted We are being taxed $600.00 for a penalty for converting $10,000.00 ($5,000.00 each) to two Roth IRAs from our traditional IRA's. Why is this? on Retirement tax questions. March 18, 2025 11:45 AM