Backdoor Roth IRA

Forum|Forum|7 years ago
June 1, 2019
2 replies
16 views

If I do a backdoor Roth IRA now (Feb. 2017), do I report it in my 2016 tax or 2017 tax return?

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Best answer by AnnetteB6

You would report it in 2017.

Be sure that the non-deductible IRA contribution is made for the 2017 tax year and not 2016. The second step in the process, changing from the Traditional IRA to the Roth IRA, will generate and Form 1099-R that you will not receive until early 2018. Therefore, it will be reported on your 2017 tax return.

AnnetteB6Answer

Level 15

You would report it in 2017.

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minhtuantaAuthor

Level 3

Sorry, I left out some details. I made the nondeductible contribution to my IRA in 2014. I now want to do a backdoor Roth IRA for that nondeductible contribution. If I do it now, I'll receive Form 1099-R in early 2018 and would report it in 2017, is that correct?

fanfare

Level 15

You can't avoid it. The custodian will calculate the associated earnings. this is mandatory.
If you make a contribution for 2016 you can convert that too.

Then in May you can make a contribution for 2017 and convert that.

You must convert every thing to bring your IRA balance to zero each time.