AnnetteB6
Expert Alumni

Retirement tax questions

There are two things needed in your 2023 tax return to report a back door Roth IRA conversion.  

 

First, you have to enter the non-deductible Traditional IRA contribution made in 2023.  That will establish the basis in your Traditional IRA.  Based on your information, prior to 2023 your Traditional IRA basis would be zero.

 

Second, you enter the Form 1099-R that is reporting the distribution from the Traditional IRA which is then converted to the Roth IRA.  With the distribution being equal to the basis, this should be non-taxable.

 

Here is a TurboTax article that gives you these steps to follow so that it is reported correctly in your return:

 

How do I enter a backdoor Roth IRA conversion?
 

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