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reichb
New Member

In early 2018 I contributed a total of 11k to my tIRA (5500 for 2017 and 5500 for 2018) and then converted to a rIRA (backdoor roth)

Unfortunately I must have contributed after I filed my 2017 taxes and no 8606 was filled out. Now as I fill in my 1099-R I am getting taxed on 5,500 of the backdoor when it should be tax free. Do I ne
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dmertz
Level 15

In early 2018 I contributed a total of 11k to my tIRA (5500 for 2017 and 5500 for 2018) and then converted to a rIRA (backdoor roth)

You need to file the missing 2017 Form 8606 to report the nondeductible contribution you made for 2017.  The amount on line 14 of that form will transfer to line 2 of your 2018 Form 8606.  In 2018 TurboTax, be sure to click the Continue button on the Your 1099-R Entries page and enter this basis when TurboTax asks if you made nondeductible contributions for years prior to 2018.

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2 Replies
dmertz
Level 15

In early 2018 I contributed a total of 11k to my tIRA (5500 for 2017 and 5500 for 2018) and then converted to a rIRA (backdoor roth)

You need to file the missing 2017 Form 8606 to report the nondeductible contribution you made for 2017.  The amount on line 14 of that form will transfer to line 2 of your 2018 Form 8606.  In 2018 TurboTax, be sure to click the Continue button on the Your 1099-R Entries page and enter this basis when TurboTax asks if you made nondeductible contributions for years prior to 2018.

reichb
New Member

In early 2018 I contributed a total of 11k to my tIRA (5500 for 2017 and 5500 for 2018) and then converted to a rIRA (backdoor roth)

Thank you. After playing with the software for hours I came to that conclusion too. Thank you for confirming! Much appreciated. By putting in line 14 (5500) as cast basis my tax went away and all is good in the world.

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