Backdoor Roth IRA- why showing up as excess on turbotax?

amother

Mon, Mar 20 2023, 9:52 pm

If you put money into an ira then converted it to roth ira, (backdoor) why are they saying it's excess if you're allowed to do the backdoor method?

amother

Tue, Mar 21 2023, 7:27 am

bump

amother

Dandelion

Tue, Mar 21 2023, 11:08 am

Turbo Tax isn't very good at handling complicated situations. Probably most people that can afford/ know what a back door IRS is have an accountant and aren't using Turbo Tax.

amother

Sienna

Tue, Mar 21 2023, 11:25 am

amother OP wrote:

If you put money into an ira then converted it to roth ira, (backdoor) why are they saying it's excess if you're allowed to do the backdoor method?

Read this article:
https://thefinancebuff.com/how......html

amother

Tue, Mar 21 2023, 9:57 pm

amother Sienna wrote:

Read this article:
https://thefinancebuff.com/how......html

thanks, was I supposed to get a 1099 R form?

amother

Tue, Mar 21 2023, 9:57 pm

amother Dandelion wrote:

Turbo Tax isn't very good at handling complicated situations. Probably most people that can afford/ know what a back door IRS is have an accountant and aren't using Turbo Tax.

Return isn't complicated.