Get your taxes done using TurboTax

Please follow these steps enter a "Backdoor IRA" to ensure it is calculated correctly in TurboTax (pay close attention to enter your prior year basis steps 8 and 9:(

To enter the nondeductible contribution to the traditional IRA:

1. Login to your TurboTax Account 
2. Click on the Search box on the top and type “IRA contributions”
3. Click on “Jump to IRA contributions"
4. Select “traditional IRA”
5. Answer “No” to “Is This a Repayment of a Retirement Distribution?”
6. Enter the amount you contributed: $6,000
7. Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
8. Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had a nondeductible contributions before this tax year.
9. If you had a basis in the Traditional IRA before then enter the amount: $6,000 from 2019.
10. On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount: $6,000.

To enter the 1099-R distribution/conversion: 

1. Login to your TurboTax Account 
2. Click on the Search box on the top and type “1099-R”
3. Click on “Jump to 1099-R”
4. Click "Continue" and enter the information from your 1099-R
5. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA”
6. On the "Your 1099-R Entries" screen click "continue"
7. Answer "yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
8. Answer the questions about the basis ($6,000 from 2019).

Please double-check that you had enter your 2019 contribution as nondeductible on your 2019 tax return and it created Form 8606. 

Please What is IRS Form 8606: Nondeductible IRAs for additional information.