In January 2023 I made $6500 in non deductible contributions to a traditional IRA then immediately did a backdoor Roth conversion. I’ve received a 1099-R from Fidelity and have been following the instructions here for TurboTax Online:
https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-...
The problem is that no matter what I do I cannot get the software to populate Box 1 of form 8606 with the $6500 non deductible contributions and the $6500 is being treated at taxable on box 18 of form 8606 and box 4b of my 1040. If I follow the instructions it says to:
Start or Revisit next to “Traditional and Roth IRA Contributions”
Which does not exist. The only option exists is:
IRA, 401(k), Pension Plan Withdrawals (1099-R)
After I’ve entered my 1099-R on this page I get to the question:
Any Nondeductible Contributions to IRA?
Which I’ve selected Yes.
Then I enter a total basis on $0 for my IRA basis and $0 for the value on December 31, 2023.
When I look at my completed 8606 form only box 16 and 18 are filled out with $6500 which causes the entire $6500 to be treated as taxable. Since the online instructions seem to be incorrect or incomplete how do I get TurboTax to populate box 1 of form 8606 with the correct amount $6500 of non deductible contributions?
