Skip to main content
April 13, 2023
Question

Backdoor Roth Rollover Being Counted as Income

  • April 13, 2023
  • 1 reply
  • 0 views

My spouse and I each made a $6000 non-deductible contribution to a traditional IRA.  These contributions were made with funds from a standard savings account (ie we already paid taxes on these funds).  We both did a rollover to a Roth IRA of the entire amount. Turbotax is now saying this $12000 is income and we have to pay taxes on $12000 of retirement fund distributions.

    1 reply

    April 13, 2023

    If it is showing as income, you may not have indicated the nondeductible contributions.  See How do I enter a backdoor Roth IRA conversion?