I am doing an amended return and cannot figure out how to get a backdoor Roth IRA to show up correctly in form 8606. I am following the guide here: https://www.whitecoatinvestor.com/how-to-report-a-backdoor-roth-ira-on-turbotax/
1. Select "Personal Income"
2. Select "Retirement Plans and Social Security"
3. Select "IRA, 401(k), Pension Plan Withdrawals (1099-R)"
4. Add new 1099-R form
- 1. Gross Distribution = $6000
- 2a. Taxable Amount = $6000
- 2b. Checked Boxes: [x] Taxable amount not determined [x] Total distribution
- 7. [2] Early distribution (except Roth IRA)
- [x] The IRA/SEP/SIMPLE box is checked on my copy of 1099-R is selected
5. Select Continue
6. "Did you inherit from XXX?" - No
7. What did you do with the money from XXX?
(x) NAME moved the money to another retirement account (or returned it to the same retirement account)
() NAME did something else with it (cashed out, etc.)
When selecting first option, these two options show up
() NAME rolled over all of this money
() NAME did a combination of rolling over, converting, or cashing out the money
THERE IS NO OPTION "NAME converted all of this money to a Roth IRA account"!!
If I select rollover, then go in
1. [Deductions & Credits]
2. [Retirement and Investments]
3. [Traditional and Roth IRA Contributions]
4. Select [Traditional IRA] checkbox
5. [Is this a Repayment of a Retirement Distribution] --> No
6. [Tell Us How Much You Contributed]
NAME total traditional contributions = $6000
Tell us how much of the above total contributions for YEAR you contributed between January 1, YEAR+1 and April 18, YEAR+1 = $6000
7. [Did You Change Your Mind] -> No
8. [Any Excess IRA Contributions Before YEAR?] -> No
9. [Any Nondeductible Contributions to NAME's IRA?] -> Yes
10. [Let's Find Your IRA Basis] -> $0
ERROR!! --> [Income Too High To Deduct an IRA Contribution]
Can you please help me figure this out? I am stuck in getting the Roth IRA in the tool. Using desktop Windows TurboTax Home & Biz 022.000.0965
