dmertz
Level 15

Retirement tax questions

A backdoor Roth is nothing more than a traditional IRA contribution (or contributions) followed by a Roth conversion.  Each of these transactions is entered separately into TurboTax.

 

A traditional IRA contribution for 2020 is reportable on your 2020 tax return.  If it's deductible it will appear on your 2020 Schedule 1 line 19.  If it's non-deductible it will appear on Part I of your 2020 Form 8606.   Nothing else regarding these transactions will appear on your 2020 tax return.

 

A traditional IRA contribution for 2021 is reportable on your 2021 tax return.  If it's deductible it will appear on your 2021 Schedule 1 line 19.  If it's non-deductible it will appear on Part I of your 2021 Form 8606 along with the amount carried forward from line 14 of your 2020 Form 8606.

 

A Roth conversion performed in 2021 will be reported on your 2021 tax return.  The taxable amount of the conversion will be calculated on Part I of 2021 Form 8606 (or using Worksheet 1-1 from IRS Pub 590-B) and the conversion itself will be reported on Part II of the 2021 Form 8606.