itonewbie
Level 15
04-03-2023
01:43 PM
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@tccpg289 wrote:
Taxpayer is married filing jointly, and the spouse contributed $6k to a non-deductible IRA and immediately converted to a roth.
Their combined income is $700k for 2022.
Right now, the $6k is coming through as taxable on the 1040 (based on the information entered from the 1099-R).
How does this get entered correctly?
If the spouse contributed $6K and that was distributed for ROTH conversion along with earnings/loss, 1099-R wouldn't have reported that $6K is taxable because that's the basis. Take a second look at the 1099-R and make the relevant entries in accordance with the article cited above.
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