TaxGuyBill
Level 15
07-12-2024
12:27 PM
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@qbteachmt wrote:
"That should undo the contribution to the Traditional IRA."
It wasn't contribution, though. It would be coded as rollover. It wasn't new money for the year.
It is not allowable to roll over a Roth to a Traditional, so it is a failed rollover that is treated as a new contribution, regardless of what check-boxes the broker put into his computer.