Just contributed to 2021 IRA and won't receive form 1099-R. What can I do for 2021 return?

[yummikawaii]

Hey,

I made a contribution to IRA and covert all of them to Roth in Mar 2022. And looks like it's already passed the deadline when 1099-R being sent out, so I might not get a chance to receive a 1099-R this year.

In this case, what can I do for this year's tax return?

I found an answer at How do I enter a backdoor Roth IRA conversion? saying that:

If you'll receive this form in 2022, wait to report it on your 2022 taxes. In this case, only complete Step 1 below for your 2021 taxes. You’ll complete both steps next year when filing your taxes for 2022

Does this mean that late IRA contribution like I did and postpone the input of form 1099-R until filing tax return of 2022?

Thanks!

[macuser_22 · Accepted solution]

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@yummikawaii wrote:

Hey,

In this case, what can I do for this year's tax return?

For this year you only report the IRA non-deductible contrition. Be sure that yiu say it is to be non-deductible to be sure it generates  a 8606 form with the non deductible contribution on line 14 that you will need next year to report the backdoor Roth.

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

[yummikawaii]

wow thanks! This is super clear!