![]() Two Things in This Life Are Certain: Death and Tax Loopholes There shouldn’t be anything in the section titled Schedule 1, Line 32 IRA deduction. If you did have earnings between the contribution and the conversion, then they’ll still be taxable and will show up here. In the section titled 1040 Postcard, Line 4, you should see your Roth IRA listed under IRA distributions.Īs long as you didn’t have any earnings between when you contributed to your Traditional IRA and when you did your backdoor conversion to a Roth IRA, your Taxable amount should show as being zero. Click on Preview my 1040 on the left-hand side of the window.On the Tool Center screen, choose View Tax Summary.Click on Tax Tools on the left-hand side of the screen.If you want to make sure that everything went through properly, you can use the following steps to check on how you’ll be taxed on your Roth IRA: Once you’ve followed these steps, you should have successfully entered the information the software needs to properly calculate your tax return. ![]()
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