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AlexM1
February 17, 2024
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Why did AGI increase on my taxes due to a backdoor Roth IRA conversion? I thought contributions to Roth IRAs didn't raise my AGI.

  • February 17, 2024
  • 1 reply
  • 0 views
I contributed to a Traditional IRA using my own, personal, after-tax dollars before doing the backdoor conversion to a Roth IRA. So I was already taxed on that money. So why is it raising my AGI to tax me a 2nd time?
Best answer by AmyC

As you go through the program, you have to enter the basis in the program, which was your already taxed dollars. You would have an 8606 showing the basis from the contribution with already taxed funds. Be sure to enter the tax basis.

 

See How do I enter a backdoor Roth IRA conversion?

1 reply

AmyC
AmyCAnswer
Employee
February 17, 2024

As you go through the program, you have to enter the basis in the program, which was your already taxed dollars. You would have an 8606 showing the basis from the contribution with already taxed funds. Be sure to enter the tax basis.

 

See How do I enter a backdoor Roth IRA conversion?

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