Anonymous
08/08/2016 11:10
Subject: Got a tax bill from the IRS - backdoor roth
Op here. Note to self - pay someone to do taxes from now on.
Anonymous
08/08/2016 10:25
Subject: Got a tax bill from the IRS - backdoor roth
You probably didn't put in the basis for your IRA correctly when you filed your taxes. You need to amend your tax return for 2014 to fix this.
Anonymous
08/08/2016 10:22
Subject: Got a tax bill from the IRS - backdoor roth
For tax year 2014 - I did backdoor roth contributions for DW and myself. The IRS flagged the sale of the nondeductible IRA as distributions and have added $11k to our income for that year and issued me a bill for a bit over $3k. Just trying to get an idea of how much of a pain in the ass it will be for us to avoid having to pay tax on what certainly wasn't $11k in income. Anyone dealt with this before?