SamS1
Expert Alumni

Get your taxes done using TurboTax

You should be able to do the conversion.  The code 2 indicates the distribution was an early withdrawal and an exception to the 10% penalty applies.  Normally on a Backdoor Roth, you would make a contribution to a traditional IRA that would be nondeductible due to income limits.  Next you would input the 1099R indicating it was Roth conversion and TurboTax would handle the rest with your $6000 1099R amount not taxable.  Yes, normally the 1099R for the conversion amount would indicate the the box 1 gross distribution and box 2a taxable amount with $6000 with code 1 in box 7.  Yes, the conversion needed to be done by 12/31 in the year it occurred.  I am not sure what your other 1099R with the G code represents and if it is part of the conversion transaction.

 

In TurboTax, you will want to enter the contribution to the Traditional IRA first then enter the 1099R.  When finish, this should result in your traditional distribution being non-taxable. Click here for more information.  A backdoor Roth IRA allows you to get around income limits by converting a Traditional IRA into a Roth IRA. Contributing directly to a Roth IRA is restricted if your income is beyond certain limits, but there are no income limits for Roth conversions.