What? I never made a Traditional IRA contribution for which to offset my conversion. You're way off here.

No penalty, but income tax due. TurboTax says tax doesn't apply. I believe they are mistaken.

Apparently you didn't read my whole answer. I know what a 1099-R, 8606 and 5498 are. I worked as a Retirement Specialist for a four trillion dollar mutual fund ...

TurboTax, do you hear us?