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Reporting on Backdoor ROTH conversion for 2018 & 2019 nondeductible IRA in 2019
In 2019 before 4/15/19, I made 2 IRA nondeductible contributions ($6,500 for 2018 & $7,000 for 2019) & rolled over to Roth IRA shortly. I have already filed Fm 8606 in 2018 for the nondeductible IRA. On January 2020, I received a 1099 R from Vanguard lumping my both contributions together as taxable total distribution $13,506 (code 02 on box 7), & taxable amt not determined. I have keyed in 1099R in Turbo Tax & stated it is a rollover. However, 1040 treats it as total distribution and added it as income. Why? How should I report the Fm 8606 this year? Thanks!
‎April 15, 2020
11:31 AM