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Retirement tax questions
Hi Dmentz,
I have been making backdoor Roth IRA contributions (converting nondeductible/after-tax traditional IRA contributions) since 2018.
For 2018, i made $5,500 contribution in early 2019. since i contributed in 2019, I didn't receive the 1099-R for $5500 for 2018 so i forgot to file for 2018.
For 2019, i made $6000 contribution in early 2020. I received 1099-R $5500 for 2019 but i forgot this contribution was for 2018 and i filed for $5500 for 2019. But the $6000 contribution for 2019 was not filed.
For 2020, i made $6000 contribution before end of 2020. Since i made $6000 contribution in early 2020 for 2019 and another $6000 end of 2020 for 2020, i received 1099-R for 2020 for $12,000.
How should i make the correction in Turbo Tax to reflect the correct contributions for each year?
Thanks,
Vincent