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