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Retirement tax questions
A backdoor Roth has two parts the nondeductible Traditional IRA contribution and the Roth conversion. You fulfilled the first part when you entered the Roth IRA contributions and indicated in the interview it was recharacterized as a Traditional IRA contribution and then made it nondeductible. TurboTax will add the basis on line 1 of Form 8606. The conversion part is entered when you enter your Form 1099-R and indicate in the follow-up questions that it was converted to a Roth IRA.
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March 24, 2025
12:45 PM
7,735 Views