I am in CA & cannot contribute to Roth IRA directly so took the Backdoor Roth IRA Route last year. Contributed 6k and once the funds were settle in IRA, I moved them to Roth IRA. First week of Jan 2024, I got 1099-R for year 2023. It says taxable amount is $6002 and change.
Why is this a taxable amount when I contributed fro after tax money?
Talked to 2 CA’s. 1st says its taxable & 2nd says not taxable since I already paid taxes.
I have searched online and am totally confused. Need help
Submitted March 27, 2024 at 12:09AM by PuzzledMindAndBody https://ift.tt/6abk1qJ
