Backdoor IRA
I have a question pertaining to my 2021 tax return. Utilizing a "backdoor IRA" strategy, I opened a traditional IRA account and contributed after-tax funds. (To complicate matters a bit further, I made contributions for 2020 and 2021.) I then transferred the funds to a Roth IRA. When I filed my 2021 tax return, I paid taxes on the amount that I transferred. However, I think this may have been a mistake, as the funds had already been taxed. Should I have payed taxes on the transferred funds?
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