DianeC958
Expert Alumni

Retirement tax questions

To report the amount converted for 2018 you would need to amend your tax return and show the distribution from the IRA to the Roth IRA as a substitute 1099-R.  

 

The code you need for Box 7 on the substitute 1099-R is code 2.

 

Here is a link to directions for entering the information in TurboTax.

 

Then on your 2019 return on the form 8606 you need to report only the $6,000 for the amount that you contributed and converted for 2019 so you are not charged the penalty.  You will need to either amend your 2018 return first and upload the information into TurboTax online so that the 8606 form will be correct or use the Desktop version of TurboTax for 2019 so you can make direct changes to the form 8606.

 

Link to How To Amend Prior Year's Taxes Using TurboTax

 

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