How do I enter a backdoor Roth IRA conversion if my conversion contains contributions made in 2021 for both 2021 and 2020

[Jenny011]

Thank you @DanaB27 … that is exactly what I did wrong. Darn, I will need to amend it once it is accepted. 

do I enter $6000 for 2021 for amount converted? It is asking how much of the $12000 I moved to an IRA, 401k or other retirement account. Or can I put all $12000 here and not have to worry about amending 2020 taxes..? (Wishful thinking here)  

also, how do I amend my 2020 taxes? I no longer have the 2020 software. 

[Jenny011]

Sorry! I do see you said to put down $12000 for the conversion amount. 

does it negate me having to amend 2020 tax returns? Or is that still required? 

I already filed.. will I need to wait until it is accepted to amend for 2021 as well? 

thank you so much!!! 

@DanaB27 

[DanaB27]

Yes, you will still have to amend your 2020 tax return to enter the nondeductible contribution and create the 2020 Form 8606 with the $6,000 basis on line 14.

Yes, you have to file a 2021 amended return to make changes. But please wait until your refund or payment is processed. Please be aware that you can e-file your 2021 amended federal tax return, but most states require amendments to be printed and filed by mail.

@Jenny011

[Jenny011]

I am not expecting a refund (I can only dream) but I have amended as it was accepted this morning. 

Form 8606

line 1- $6000

line 2- $6000

line 3- $12000

line 5- $12000

line 13- $12000

line 16- $12000

line 17- $12000

1040

line 4b no longer has the rollover printed. Is this accurate now?? 

you are a godsend @DanaB27 

[Jenny011]

Another question, when I am mailing in my amended return. Do I only mail the 1040x and updated 8606 forms? Or do I need to mail the entire packet to include all the forms? 

@DanaB27 

[DanaB27]

Yes, your Form 8606 and the entry on Form 1040 line 4 looks correct.

The 2021 amendment you can e-file. 

For the 2020 amended return you will mail Form 1040-X, the new Form 1040, and Form 8606.

@Jenny011

[Jenny011]

Thank you Dana! 

turbotax is not giving me the option to efile my 2021 amended tax return. 

For 2021, can I mail the 1040x and updated 8606  forms only as well? Or do I need to send the entire packet?

amended 2020- I will mail per your guidance 1040x with updated 8606 forms only

Do I need to do anything with state for these amended tax returns for both 2020 and 2021? 

I did not efile state and have not mailed it either. Should I mail the original or the amended version? I do not believe anything has changed but the name of the document itself and a few line items bc it is an amended version now. Please advise. Thank you much!!! 

@DanaB27 

[DanaB27]

Yes, you will mail Form 1040-X, Form 8606, and the new Form 1040

Yes, you will use the new version for filing your 2021 state return.

For the 2020 amended state return, you can check if anything changes on your state return and if yes you will have to file it too.

@Jenny011

[Jenny011]

What is “the new form 1040”? 

do I also need to attach my w-2? To the amended federal return? 

also, just to confirm, for state, since I have already amended and have not mailed in the original, I should just mail the amended state only? Is that correct? 
@DanaB27 

[Jenny011]

Oh wait! I see it.. there are 2 pages for 1040x and another 2 behind it for form 1040. I’m guessing this so the “new form 1040” you are referring to. 

ok, so next question is.. do I need to attach w-2? 

also, when I amend for 2020 and state is not affected.. no refund or payment. Will I need to resend the amended state as well?

just to confirm- for 2021 state, I am sending in only 1, amended version and will disregard original version altogether. Is this correct? 

@DanaB27 

[DanaB27]

No, you do not need to attach the W-2.

Yes, Form 1040 was what I was referring to.

Yes, if there are no changes on your 2020 amended return then you do not need to amend it.

No, you will not send the amended form for your 2021 state return but you will send the state with the correction included (since you hadn’t filed before).

@Jenny011

[Jenny011]

Thank you so so much Dana.

ok, I believe I have the federal 2021 amended tax return squared away and ready to be mailed. 

for 2021 state tax, I will file the original version as I do have a payment I need to submit. The only change/update was the one we discussed before updating the rollover status to conversion from traditional to Roth IRA. Do I need to include any paperwork from the amended state for 2021? 

@DanaB27 

[Jenny011]

For my state tax return (2021)- it says to include w-2, 1099, 1099r or other statement that shows bc tax withheld. If my 1099 and 1099r forms received does not include any state tax withheld on any of these documents. Do I need to include? Reason why I ask is bc I am mailing and the documents could get lengthy. Thanks!! 

@DanaB27 

[Jenny011]

I went ahead a prepared the packet with all 1099 and 1099r to be on the safe side for my state return. Your help was most appreciated!! @DanaB27 

[DanaB27]

Yes, that is fine that included all forms 1099 and 1099-R to be safe.

@Jenny011