Hi all, I have a fairly complicated situation with my 1099-R and TurboTax:
In 2021, I converted my entire Traditional IRA balance into my Roth IRA. The Traditional IRA consisted of the following funds:
- $6000 contributed to my Traditional IRA, and immediately converted to Roth IRA (Backdoor) (AFTER-TAX)
- $3500 that had been recharacterized from my Roth IRA in 2019. I correctly filled out form 8606 for 2019. I should not owe any taxes on this. (AFTER-TAX)
- $3700 that had been rolled into the account from a separate retirement account (PRE-TAX)
- $2000 in investment gains. (PRE-TAX)
I am expecting to owe taxes on #3 and #4. Vanguard combined all of these amounts into one 1099-R:
Box 1 shows $15,200, Box 2a shows $15,200, and 2b is checked for ‘taxable amount not determined’ and ‘total distribution’. Box 7 shows code ‘2’ and is checked for IRA/SEP/SIMPLE.
When I enter this information into TurboTax, my tax owed does not change. I’m not seeing a way to show that some of it was pre-tax and some of it was after-tax.
Thanks for your help!
