The reason you are not finding a single entry point to report your conversion is that reporting a backdoor Roth conversion is a two-step process. Here is how to properly report your Roth IRA conversion in TurboTax:
Step One:
- Go to Deductions & Credits, Retirement and Investments, Traditional and Roth IRA Contributions, to enter your contribution amount
- Next, select Traditional IRA and continue through the interview, ensuring you select "No" when asked if you recharacterized the contribution
- You should receive a message informing you that it is a nondeductible IRA contribution once you have made the entries
Step Two:
- Go to Wages & Income, Retirement Plans and Social Security to enter your Form 1099-R information
- Ensure you select, "I converted some or all of it to a Roth IRA"
- Continue answering the questions until you reach the "Review your 1099-R Info" screen
To review your conversion results:
- Click Tax Tools on the left panel within TurboTax
- Scroll down and click Tools
- Select View Tax Summary from Tools Center once it opens
- Click Preview my 1040 which will appear above Tax tools on the left panel
- Scroll down and look for Line 4a, ensuring it contains the distribution amount
- Next, check Line 4b to ensure there is either a zero (0), or is blank
Learn more by reading How do I enter a backdoor Roth IRA conversion?
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