Please review the instructions How do I enter a backdoor Roth IRA conversion? You can check line line 4b of Form 1040 for the taxable amount. To preview Form 1040 in TurboTax Online: Click on "Tax Tools" in the left menuClick "Tools"Click "View Tax Summary" in the Tool Center windowClick on "Preview my 1040" on the left If you show a taxable amount on line 4b, did you have any other pre-tax funds or earnings in your traditional/SEP/SIMPLE IRAs? If you have a mix of pre-tax and after tax then the the pro-rata rule applies. This means that with each distribution/ conversion you will have a taxable and nontaxable part.

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pascaline-mary

Question

I converted all of ira money i contributed to this year to a back door roth ira but I am still charged taxes on the money I contributed. There seems to be a problem?

Forum|Forum|1 year ago
February 22, 2025
1 reply
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No text available

DanaB27

Please review the instructions How do I enter a backdoor Roth IRA conversion?

You can check line line 4b of Form 1040 for the taxable amount.

To preview Form 1040 in TurboTax Online:

Click on "Tax Tools" in the left menu
Click "Tools"
Click "View Tax Summary" in the Tool Center window
Click on "Preview my 1040" on the left

If you show a taxable amount on line 4b, did you have any other pre-tax funds or earnings in your traditional/SEP/SIMPLE IRAs? If you have a mix of pre-tax and after tax then the the pro-rata rule applies. This means that with each distribution/ conversion you will have a taxable and nontaxable part.

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