Hi,
I have the following activity for my Traditional and Roth IRA.
11 April 2019- contributed 5500 to 'DEDUCTIBLE' IRA for 2018
24Feb 2020 -Converted 5591 (500 + earnings) to Roth
25 Feb 20 - contributed 6000 to 2019 'NON' DEDUCTIBLE IRA
25 Feb 20- contributed 6000 to 2020 'NON' DEDUCTIBLE IRA
26 Feb 2020 - converted 12000 to ROTH IRA
I am above income limits for Roth IRS so i did a backdoor.
I received a 1099-R at the end of 2020 and it shows the 17592 conversion with distribution code 02. I uploaded it in Turbo tax and have the following results in 8606:
Line 1- 6000 (probably for 2020 IRA contribution non deductible)
Line 2- 6000 - for 2019 non deductible IRA (which was converted to Roth)
Line 8- blank (even though i converted from T IRA to Roth)- is this right?
Line 13- 12000
Line 14- 0 - is this right
Line 16- 17592
Line 17- 12000
Line 18- 5592 - makes my deductible IRA conversion taxable which seems right.
Question- should it not show 6000 in Line 8 since I converted in 2020?
In my 2019 form, it did not show Line 4- contribution made between Jan 2020 and Apr 2020. I did enter this amount in the turbo tax questionnaire. Here is my 2019 form detail:
Line 1- 6000 -for the non deductible contribution
Line 2- 0 - should it not show my 5500 deductible IRA contribution here?
Line 14- 6000 - is this right?
Thanks,
