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February 9, 2025
Question

I converted from a traditional ira to a roth ira, but i still says i am being panalized for a higher contribution

  • February 9, 2025
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    1 reply

    February 9, 2025

    When you convert a Traditional IRA to a Roth IRA, that is not considered to be a contribution to your Roth IRA and it should not be entered into your return as a contribution.  If you have entered it as a Roth contribution then you should delete that entry.  

     

    Entering the Form 1099-R that is for the distribution from your Traditional IRA and then indicating that it was converted to a Roth IRA is all you need to do to report that the money was put into a Roth IRA.  

     

    For reference, take a look at the following TurboTax help article which shows the steps to report the backdoor Roth IRA conversion in TurboTax:

     

    How do I enter a backdoor Roth IRA conversion?

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