I am "Rothifying" part of an existing IRA containing funds which were not added in 2022. (And not taxed when contributed.) Whether the term "Backdoor Roth" is appropriate I do not know.
However, TurboTax Premier 2022 does not appear to handle this. When reporting the income, one is given 2 choices. One being that it is being rolled over, the other is that is being cashed out. If rolled over, it assumes to another standard IRA, not taxable.
If it is being cashed out, it does not offer the option to convert it to a Roth. Trying to identify it as a Roth contribution fails because of income constraints and limits on amounts one can contribute directly to a Roth.
I did this for 2019 using TT, and it worked then. The income should be taxable. The second step to the process is to somehow get to IRA form 8606. TT 2022 does not offer a path for this that I could find, and instructions for how to do so do not work in TT Premier, at least.
However, since TT is unwilling to even acknowledge the problem, I see a work around. I call it a "cash out" to make the IRA withdrawal taxable and make the tax owed correct. I then print the 8606 form and manually fill out Part II (3 lines). (Part I and III don't apply in my case.)
