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Level 2
posted Jan 13, 2023 9:22:30 PM

Backdoor Roth IRA not showing correctly on 8606

I am using TurboTax Premier 2022 Desktop Version for Mac.

 

I did a backdoor Roth conversion in 2023 for tax year 2022.  In the Deductions Section, I entered that my total contribution for 2022 was $6000, and on the following line for "how much of the contribution was made 1/1/23-4/18/23" I also entered $6000.

 

Then I looked at the 8606 Form, and Line 4 says "$0".  The total tax seems to be calculated correctly, but I'm confused why TurboTax is entering $0 on Line 4.  Is this a bug or am I missing something?

 

While I'm asking questions, I wanted to double check that since all of the contribution was in 2023 for tax year 2022, I should not have a 1099-R to enter, just the Deduction part as mentioned on another post (link below), correct? https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-ira-conversion/L7gGPjKVY_US_en_US?uid=lcvfe8x5

 

Thanks!

0 3 342
1 Best answer
Level 15
Jan 14, 2023 5:21:53 AM

In 2022, you did not take a distribution or make a Roth IRA conversion.

Line 3 says:  Besides Line 14, do not complete the rest of Part 1.

 

@brgeren 

3 Replies
Level 15
Jan 14, 2023 4:48:53 AM

Did you mistakenly indicate that you changed your mind and recharacterized the traditional IRA contribution to be a Roth IRA contribution instead?

 

Is $6,000 shown on line 1 of Form 8606?

 

Is your traditional IRA contribution being deducted on Schedule 1 line 20?

 

Are you married filing jointly and entered the contribution as being for one of you but are looking at the Form 8606 for the other?

 

 

Level 15
Jan 14, 2023 5:21:53 AM

In 2022, you did not take a distribution or make a Roth IRA conversion.

Line 3 says:  Besides Line 14, do not complete the rest of Part 1.

 

@brgeren 

Level 2
Jan 14, 2023 9:04:00 AM

Yep, totally missed that, I was compared to past form 8606's where I did do the conversion, this time I put the money into the traditional and immediately converted to a Roth but in the following calendar year.  So you are completely right, thank you!