michele
Level 7

 Taxpayer maxes out her 401k on her salary. Makes to high of an income to add a contribution to a  roth. She gives me a 1099 simple ira code #2  and letter from investment advisor that says he did a conversion to the roth and let him know if he went over her 7000 limit. Well I did not think there was a limit to a conversion.  Makes me think he was trying to do a contribution which she clearly does not qualify for since she is over $140.000 Do they have paperwork showing a conversion did not see any coding lists for this. Is there a penalty exception for conversions. Was trying to look that up. There is really no reason for exception other than she put part into this so called conversion. then the rest she kept I would think she should be paying penalty on on the part she kept.

one of those the more they talk the more confused and different scenarios I keep seeing ugh!!!!!!!

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