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I have converted my traditional IRA balance (investment done in 2018) into Roth IRA in Feb 2020. Is this considered a conversion?

I converted my traditional IRA from 2018 to Roth IRA in Feb 2020. Is this called a conversion?
I also put money in a traditional IRA in feb 2020, for year 2019 on a non deductible basis.
When i enter the amount as recharacrterized, the amount of tax goes up by 6k  in Turbo tax. Not sure why.
It also asks if i have made and kept track of any non deductible contributions to my traditional IRA from 2018 or prior years. Should i click on yes or no since the contribution is for year 2019 only?
It also says finally that i have a penalty because i made an excess contribution to my Roth IRA. I just converted my non deductible traditional IRA to Roth IRA.
I also want to know which forms I should fill- 1099R and 8606? But 1099R has not been given to me yet by my trustee.
What should i fill on different lines on form 8606?
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1 Reply

I have converted my traditional IRA balance (investment done in 2018) into Roth IRA in Feb 2020. Is this considered a conversion?

Ok ... on the 2019 return you will ONLY report the IRA contribution period.    The CONVERSION happened in 2020 and will be reported on the 2020 return ONLY.  Next Jan you will get a 1099-R for the conversion to enter into the program and at that time you will report the conversion of the non deductible contributions from prior tax years.   NOW you will only have the 8606 showing the compilation of the total non deductible contributions. 

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