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Retirement tax questions
Thank you! According to your link everything checks out when I verify the 1040:
To check the results of your backdoor Roth IRA conversion, see your Form 1040:
- Select Forms in the upper-right corner of the screen.
- Select Form 1040 from the left menu.
- Use the scroll bar to find:
- Line 4a IRAs Distributions. Your backdoor Roth IRA amount should be listed.
- Line 4b Taxable amount should be zero unless you had earnings between the time you contributed to your Traditional IRA and the time you converted it to Roth IRA.
- Select Schedule 1 from the menu in the left side of the screen. Line 19 IRA deduction should be blank.
- To return to where you left off in TurboTax, select Step-by-Step in the upper-right corner of the screen.
March 15, 2020
4:21 PM
30,469 Views