Retirement tax questions

If you made a contribution for 2020, but converted to Roth in 2021, then you have to list your basis from 2020(the amount you contributed in 2020).  This should be on your 2020 8606.  Then your tax amount should be $0 on 2021 (assuming you didn’t over contribute in 2020 and 2021).

 

You should’ve gotten 1099 R for 2021that shows 2020 contribution as well, import that in and follow previous instructions from other users.  


Also, if you’re doing a back door Roth, then do not choose “recharacterization.”  

I was able to use turbo tax to do the above for this tax year.