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Level 1

Solved

Backdoor Roth in Pennsylvania

Forum|Forum|6 years ago
March 15, 2020
6 replies
74 views

Hi!

In 2019 I contributed $6,000 to a non-deductible IRA and then converted it into a roth IRA (backdoor IRA). I am having trouble with inputting my backdoor IRA on turbotax. The federal part seems correct, but when I get to the Pennsylvania tax section, it keeps wanting to list the $6,000 as income for Pennsylvania. I have it coded as an early distribution from a retirement plan. It lists the gross distribution as the $6,000, a cost basis of $0.00 and then PA Income of $6,000. Would it be correct to list the basis as $6,000 in this case? Thank you so much!!

Not A Product Question

Best answer by DeanM15

As this is a contribution to a non-deductible IRA, your basis would be $6000. You paid Federal and PA tax on this income already.

However, your basis should be carried forward from the federal IRA. I would check your federal form first, before changing anything on the PA return.

To pull up a copy of your 2019 Form 1040 and Schedules 1 to 3, follow these directions:

You should be signed in and working in TurboTax
Click on Federal in the main left-hand side menu
Click Tax Tools, then Tools in the main left-hand side menu
In the pop-up window, click on View Tax Summary
The left-hand menu has now changed, click on View My 1040

You should see that none of the 6K is coming through as income on Line 4 of the 1040. You should also see no Penalty on Line 6 of Schedule 2.

DeanM15Answer

Level 10

As this is a contribution to a non-deductible IRA, your basis would be $6000. You paid Federal and PA tax on this income already.

However, your basis should be carried forward from the federal IRA. I would check your federal form first, before changing anything on the PA return.

To pull up a copy of your 2019 Form 1040 and Schedules 1 to 3, follow these directions:

You should be signed in and working in TurboTax
Click on Federal in the main left-hand side menu
Click Tax Tools, then Tools in the main left-hand side menu
In the pop-up window, click on View Tax Summary
The left-hand menu has now changed, click on View My 1040

You should see that none of the 6K is coming through as income on Line 4 of the 1040. You should also see no Penalty on Line 6 of Schedule 2.

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pixelrogue

Level 2

This was a good response.

Confirmed the federal form was accurate, and yet the PA form never picked it up. Glad it accommodated the manual edit.

easytax

Level 2

same here. can manually input basis to adjust.

Backdoor Roth in Pennsylvania

6 replies

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