Somehow when I converted my traditional IRA to the Roth, $1.76 of interest got transferred with my $5500. My wife's had $1 with it. I'm assuming this interest accrued while waiting for the funds to become available for transfer? Anyway, Turbotax is telling me I need to withdraw $2 and $1 in order to avoid penalty. How do I do this? Do I just withdraw $2 from my Roth? Or is there some sort of special form I have to fill out for tax purposes?
I'm not sure how to avoid this in the future because I don't know how it happened in the first place. My traditional IRA account balance was zero at the time of my initial contribution and it didn't show the $1.76 when I converted it to a Roth.
I'm not sure how to avoid this in the future because I don't know how it happened in the first place. My traditional IRA account balance was zero at the time of my initial contribution and it didn't show the $1.76 when I converted it to a Roth.
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