AnnetteB6
Expert Alumni

Retirement tax questions

You should not change any information that was reported on your Form 1099-R, enter it exactly as you have received it.  

 

Entering a backdoor Traditional IRA to Roth IRA conversion can be tricky as it is a two-step process to report it completely.  In general, it is a non-taxable event, but if the Traditional IRA distribution included any earnings or previous deductible contributions, then the conversion will incur some income tax on those amounts.

 

Take a look at the following TurboTax help article to be sure you covered all the steps:

 

How do I enter a backdoor Roth IRA conversion?

 

@firedrake123 
 

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