In year 2020, I did a backdoor roth of $12K-- $6K for 2019, $6K for 2020. I filled out form 8606 for 2019 taxes

Forum|Forum|5 years ago
March 9, 2021
4 replies
15 views

For my 2019 form 8606, boxes 1,3,4,14 were all $6K

TurboTax Premier Online

Best answer by DanaB27

Please follow the steps below to enter your 2020 nondeductible contribution and conversion:

To enter the nondeductible contribution to the traditional IRA:

Login to your TurboTax Account
Click on "Search" on the top right and type “IRA contributions”
Click on “Jump to IRA contributions"
Select “traditional IRA”
Answer “No” to “Is This a Repayment of a Retirement Distribution?”
Enter the amount you contributed
Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes”
Enter basis in the Traditional IRA: $6,000
On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount: $6,000.

To enter the 1099-R distribution/conversion $12,000:

Login to your TurboTax Account
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
Click "Continue" and enter the information from your 1099-R
Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA”
On the "Your 1099-R Entries" screen click "continue"
Answer "yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
Answer the questions about the basis

DanaB27

Answer

Employee Tax Expert

Please follow the steps below to enter your 2020 nondeductible contribution and conversion:

To enter the nondeductible contribution to the traditional IRA:

Login to your TurboTax Account
Click on "Search" on the top right and type “IRA contributions”
Click on “Jump to IRA contributions"
Select “traditional IRA”
Answer “No” to “Is This a Repayment of a Retirement Distribution?”
Enter the amount you contributed
Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes”
Enter basis in the Traditional IRA: $6,000
On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount: $6,000.

To enter the 1099-R distribution/conversion $12,000:

Login to your TurboTax Account
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
Click "Continue" and enter the information from your 1099-R
Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA”
On the "Your 1099-R Entries" screen click "continue"
Answer "yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
Answer the questions about the basis

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ahy1Author

Level 2

Thank you so much for your help, @DanaB27 ! Quick check, for #6, should I say the $6K or the $12K? Assuming $6K since that's the only one designated for 2020 even though I technically put in $12K during the calendar year 2020. So then for Form 8606, Boxes 1 & 2 are 6K, Boxes 3 & 5 & 13 & 16 & 17 are all 12K?