@jns001 wrote:
@macuser_22
@dmertz
@ashleyblewis
sorry if posting twice, can’t find my orig post.
I completed Roth conversion in 2021 for 2020 contribution. I have learned from your posts that I can’t report the conversion until 2021 tax forms.
Can someone tell me how to report my IRA contribution for 2020 using TurboTax? (I contributed 6000 to non deductible IRA and converted 100% to Roth in 2021-but meant it for 2020 contribution).
And, I plan to do Roth conversion for 2021 in 2021 (I learned my lesson!). How will I report that next year?
In 2020 report the IRA contribution and if it asks if you want it to be non-deductible say yes and enter the amount of the contribution. It will not ask if yiur MAGI it too high to deduct.
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.**
