I contributed 6000 to my traditional IRA in Feb 2020 for year 2019 as a non deductible contribution. I then converted it to Roth IRA right away.
I entered the details as specified on this post, I entered 6000 for year 2019 under Traditional IRA. Also 6k under contribution between Jan to July 2020.
Next question about 'How much did you transfer i.e. switch or recharacterize', I did not enter anything as specified above.
Any excess contributions before 2019- i put zero
Next question- Any non deductible contributions to IRA? It asks if there are any contributions from 2018 or prior years. I enter zero because this contribution is for year 2019. So I enter zero. What should I enter here?
Is this a repayment of retirement distribution- No
Now it says - Income too high for IRA deduction.
What am I doing wrong?
Which form should I fill? 8606 and if yes, what is my basis etc?
I do not have 1099 R since I have done it in Feb 2020 for 2019.
Part two:
I had a traditional IRA contribution done in 2019. I converted it to Roth IRA on Feb 2020. Do i have to do anything about it in this tax year?
Thanks
