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[Event] Ask the Experts: Navigating Retirement Taxes
When you convert IRA to ROTH, broker will issue you a 1099-R. When you file your 2025 tax return, enter this 1099-R as any other 1099-R. TurboTax will ask you some follow up question to determine the taxable amount. There will be one specific question about non deductible IRA contribution, make sure to say "Yes" to that question and enter the amount of non deductible contribution and total value of IRA account as of year end and TurboTax will do rest of the calculation to determine taxable amount if there is any.
Here is a link to detail steps. You do not need to complete step one since it only applies if you are reporting any contribution for current year.
How do I enter a backdoor Roth IRA conversion?
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