Hello,
I am entering my Backdoor Roth conversion in TurboTax for 2 IRAs —> Roth IRAs (each $6500) this year for myself and my husband. Usually, the ending value of all IRAs on Dec 31st of the prior year is ZERO on my Forms 5498, but this year - I have 2 nonzero values ($3.08 and $3.88). So White Coat Investor says this should be ZERO (which it has been for past 4 years of doing this). But Turbo says a nonzero number on this 5498 form means that my conversion will have the pro-rate rule applied to it. So, are these ending values really insignificant and I should just enter ZERO when prompted….or should I enter the $3 and then figure out how it affects the conversion?
Thanks everyone! TaxDocMomma
