@jns001 wrote:
For late Roth conversion (for 2020 tax year, contributed and converted in 21), turbo asks if I contributed to traditional, Roth, or none.
Which do I choose?
Enter your 2020 Traditional IRA contribution in the IRA contribution section. Say that it was non-deductible and a 2020 8606 form would be part of the tax return. Print and keep that 8606 because you will need the box 14 amount next year to report the conversion.
You will report this next year in 2022 when you do your 2021 tax return and have the 2021 1099-R for the conversion. Any conversion after Dec 31, 2020 is a 2021 conversion.
**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.**
