Doing a backdoor Roth conversion is a two-step process.
Step 1: Enter the Non-Deductible Contribution to a Traditional IRA
- Open your return if it’s not already open
- Select the Federal Taxes tab (this is Personal in TurboTax Home & Business), then Deductions & Credits
- Select I'll choose what to work on. On the list of sections, locate Retirement & Investments, then select Start or Update next to Traditional & Roth IRA Contributions
- Check the box for Traditional IRA and Continue
- Answer Yes to Did you contribute to a traditional IRA?
- Answer No to Is This a Repayment of a Retirement Distribution?
- On the Tell Us How Much You Contributed screen, enter the amount contributed and continue
- Answer No on the Did You Change Your Mind? screen
- Answer the questions on the following screens, until you reach Choose Not to Deduct IRA Contributions. Select Yes, make part of my IRA contribution nondeductible, enter the amount you contributed, and Continue
Click this link for more info on How to Enter a Back-Door Roth Conversion.
This should make your conversion non-taxable and generate Form 8606 for you.
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