Contributing to a 'back door' Roth is actually making a non-deductible contribution to a Traditional IRA and then converting the Traditional IRA to a Roth IRA.
That being said:
1 - You can make the full $6000 non-deductible contribution to a Traditional IRA for 2022 before the tax deadline of April 18, 2023 without regard to your MAGI because you are not contributing directly to a Roth IRA.
2 - You will include the 2022 non-deductible Traditional IRA contribution on your 2022 tax return, which will include Form 8606 showing that 2022 $6000 contribution.
3 - If you make non-deductible Traditional IRA contributions for both 2022 and 2023, you will report the 2022 contribution on your 2022 tax return and you will report the 2023 contribution on your 2023 tax return.
Then, after you have made both the 2022 and 2023 contributions to the Traditional IRA and converted the Traditional IRA to a Roth IRA, you will receive a 2023 Form 1099-R reporting the distribution from the Traditional IRA. This Form 1099-R will be reported on your 2023 tax return.
Use the steps below to get started reporting your 2022 non-deductible Traditional IRA contribution:
- On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
- This opens a box where you can type in “IRA contributions” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
- The search results will give you an option to “Jump to IRA contributions”
- Click on the blue “Jump to IRA contributions” link and enter your information
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
