Thank you for the token. You entered that you made the traditional IRA contribution for 2021 in 2022, is that correct? If yes, then that amount can't be converted until 2022. If you made the contribution in 2021 for 2021 then please edit your entry and don't enter that you made a contribution between Jan 1 and April 18th, 2022:
- Login to your TurboTax Account
- Click on "Search" on the top right and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select “traditional IRA”
Did you have another nondeductible contribution that you made for 2020 and therefore had a basis in line 14 of your 2020 Form 8606? If yes then you will need to enter this basis during the interview (steps 6 and 7):
To enter the 1099-R distribution/conversion:
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R”
- Click "Continue" and enter the information from your 1099-R
- 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”
- On the "Your 1099-R Entries" screen click "continue"
- Answer "yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
- Answer the questions about the basis from line 14 of your 2020 Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs
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