How to file a backdoor roth ira that was done in 2021 for the 2020 tax year? I was not given a 1099-r since I did it in 2021.

[julia-lomakina]

I put money into a Traditional IRA and then converted it shortly thereafter to a Roth IRA. I did this during 2021 but for the year 2020. I did not receive a 1099-r. How to I enter this in turbo tax?

[DanaB27]

You will enter the nondeductible contribution on your 2020 tax return:

1. Login to your TurboTax Account 
2. Click on "Search" on the top right and type “IRA contributions”
3. Click on “Jump to IRA contributions"
4. Select “traditional IRA”
5. Answer “No” to “Is This a Repayment of a Retirement Distribution?”
6. Enter the amount you contributed
7. Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
8. Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had a nondeductible contributions before this tax year.
9. If you had a basis in the Traditional IRA before then enter the amount.
10. On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount.

Then next year when you get the 1099-R you will enter the conversion on your 2021 tax return:

1. Login to your TurboTax Account 
2. Click on "Search" on the top right and type “1099-R”
3. Click on “Jump to 1099-R”
4. Click "Continue" and enter the information from your 1099-R
5. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA”
6. On the "Your 1099-R Entries" screen click "continue"
7. Answer "yes" to "Any nondeductible Contributions to your IRA?" 
8. Answer the questions about the basis and value

[julia-lomakina]

Thanks this is helpful. 

For #8 - Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had a nondeductible contributions before this tax year.

I did not have any previous traditional or roth ira and this is my first time contributing.

I assume then for #10 - On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount. - I do not get an option to fill this out and that is ok, right? 

[DanaB27]

If you did not have any prior nondeductible contribution to a traditional IRA, then select 'No" to question “Any Nondeductible Contributions to Your IRA?” .

Yes, if you had a retirement plan at work and exceed a certain income limit the traditional IRA contribution will nondeductible and you will only get a screen that your contribution is nondeductible/ $0 are deductible.