Backdoor ROTH IRA Conversion without 1099-R form

Forum|Forum|6 years ago
March 29, 2020
1 reply
0 views

For 2019 backdoor ROTH IRA conversion, I was little late and that transaction happened on Jan 3rd 2020. So, I don’t have 10990-R form.

How can I add backdoor ROTH IRA conversion?

I tried follow different steps from this forum, but it’s bit confusing when it’s asking me to add 1099-R form. Appreciate your help.

Best answer by macuser_22

@Mpatel78 wrote:

For 2019 backdoor ROTH IRA conversion, I was little late and that transaction happened on Jan 3rd 2020. So, I don’t have 10990-R form.

How can I add backdoor ROTH IRA conversion?

I tried follow different steps from this forum, but it’s bit confusing when it’s asking me to add 1099-R form. Appreciate your help.

You will report it on your 2020 tax return next year. If converted after Dec. 31, 2019 it is a 2020 conversion. Be sure to report any 2019 nondeductible Traditional IRA contributions on a 2019 8606 form that you will need.

macuser_22

Answer

Alumni - Champ

@Mpatel78 wrote:

For 2019 backdoor ROTH IRA conversion, I was little late and that transaction happened on Jan 3rd 2020. So, I don’t have 10990-R form.

How can I add backdoor ROTH IRA conversion?

I tried follow different steps from this forum, but it’s bit confusing when it’s asking me to add 1099-R form. Appreciate your help.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Mpatel78Author

Level 2

Thanks for your reply.

As you suggested, I filed 8606 for nondeductible Traditional IRA.

On completion, there was a message that considering my adjusted gross income, I am not eligible for IRA. However, there is no other warning or message from TurboTax. I guess, that should be okay. right?

macuser_22

Alumni - Champ

Right. It should say that yiu cannot deduct the contribution so it becomes non-deductible on a 8606 form.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**