Can someone help me understand if I’m doing this correctly? I contributed $6000 to my TIRA (using $ that came from my paycheck into my bank account -hence post tax) I then did an internal transfer to my ROTH IRA. The notice I got was that It is reported to the IRS as a “ROTH CONVERSION AMOUNT”. I called up TD ameritrade and the agent said it was considered a “taxable event”. What do I need to do in order to avoid being double taxed?

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A conversion is a taxable event. However when you file taxes you should file a 8606 that shows the traditional contribution was nondeductible and will have basis for the 6k. Therefore the amount of tax on the conversion will be 0. If you got a deduction for the traditional contribution you will pay tax on the conversion but it will net to 0 with the deduction

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I should add that if you get a deduction for your contribution to traditional and convert in the next year, you will get the deduction and income included the next year. For example if you make a deductible contribution for 2021 now and immediately convert, you will have a 6k deduction in 2021 and 6k of income in 2022. This all assumes you can deduct

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