Retirement tax questions

When did you convert it?    If in 2020 then you will get the 1099-R next year in 2021 and it goes on your 2020 tax return next year.    The only thing that gets entered in 2019 is the 2019 non-deductible contribution that will create a 2019 8606 form with thee contribution on line 1, 3 & 14 that you will need  for the 2020 tax return next year.

 

Hopefully you have sufficient 2019  taxable compensation (money that you worked for such as W-2 or self-employed) to support the IRA contribution.

 

Also you said "we".   IRA's are individual and can be owned by only one spouse.

 

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR  Use the "Tools" menu  (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

 

 

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**