xrs135
New Member

Retirement tax questions

Hi! So, I'm now on the "next year" portion of this, or the step-2 portion... For 2021, I filed an 8606 carrying forward a basis of $6,000. I finally received the 1099-R, and I'm inputting it into my 2022 taxes, reporting the conversion.

 

Everything seems good, except for 2022, I was below the Roth IRA income threshold and contributed directly to my Roth IRA. As a result, I'm reporting my 2022 Roth IRA contributions in addition to the backdoor conversion from 2021. Because of this, Turbotax keeps advising me that I'm over contributing. What is the proper way to report the 2021 1099-R conversion AND my regular 2022 Roth IRA contributions?