finstoncpa
Level 1
04-25-2020
07:07 PM
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THE client transferred money to a non deductible IRA contribution and then transferred the exact same amount of money into a Roth IRA
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abctax55
Level 15
04-25-2020
11:38 PM
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I can check my input for doing that tomorrow when I'm back at the computer... it's been a year or two since I had one.
"*******Tax software is no substitute for a professional tax preparer*******
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George4Tacks
Level 15
04-26-2020
09:26 AM
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Here's wishing you many Happy Returns
abctax55
Level 15
04-26-2020
11:20 AM
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The links George provided 'splain better than I can.
The key is that you have to include ALL IRA's amounts, not just the one being backdoor'ed.
"*******Tax software is no substitute for a professional tax preparer*******
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