silviosangineto
Level 2

Get your taxes done using TurboTax

The challenge is that your instructions are not what I see on my screen and here all the details below. What am I missing?

 

To enter the nondeductible contribution to the traditional IRA:

(the other steps are the same)

From Step 6:

Screen Shot 2021-02-15 at 1.24.14 PM.png

 

Step 7:

Screen Shot 2021-02-15 at 1.25.10 PM.png

 

Step 8:

Screen Shot 2021-02-15 at 1.26.00 PM.png

Step 9:

Screen Shot 2021-02-15 at 1.26.44 PM.png

Step 10:

Here I made the change you are suggesting. If I see the tax return from 2019 the basis was 0 because clearly that amount has been transferred in 2020 when I have contributed to it. (During my tax return in April 2020 I didn't have any 1099-R). Is still right to put 6K?

Screen Shot 2021-02-15 at 1.27.31 PM.png

Step 11:

Screen Shot 2021-02-15 at 1.30.05 PM.png

Step 12

Screen Shot 2021-02-15 at 1.30.36 PM.png

Step 13

Screen Shot 2021-02-15 at 1.31.17 PM.png

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To enter the 1099-R distribution/conversion: 

Step 7

Screen Shot 2021-02-15 at 1.33.17 PM.png

Step 8

Screen Shot 2021-02-15 at 1.34.26 PM.png

My tax return 2019

FORM 1040 4a 4b

Screen Shot 2021-02-15 at 1.36.03 PM.png

 

FORM 8606

Screen Shot 2021-02-15 at 1.37.16 PM.png

Again, I have contributed to my IRA in January 2020 for 2019, that's why I didn't have any money in Dec 2019.

‎February 15, 2021 1:39 PM
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