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lakshmank
New Member

Why is the money transferred from IRA to Roth IRA account being considered as additive to gross income when I am not using withdrawing it for personal use?

I transferred some money from my IRA account to my Roth IRA account. Federal and state taxes were removed. The money - after taxes went into my Roth IRA. However the money also was added to my gross income . Why? I did not remove it for personal use. I am using Turbo Tax.

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Why is the money transferred from IRA to Roth IRA account being considered as additive to gross income when I am not using withdrawing it for personal use?

You did a Roth conversion, which is a taxable event. it doesn't matter whether you used the money or not.

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2 Replies

Why is the money transferred from IRA to Roth IRA account being considered as additive to gross income when I am not using withdrawing it for personal use?

You did a Roth conversion, which is a taxable event. it doesn't matter whether you used the money or not.

Why is the money transferred from IRA to Roth IRA account being considered as additive to gross income when I am not using withdrawing it for personal use?

"Federal and state taxes were removed." now you know why.
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