Made nondeductible IRA contribution in 2020 and converted the same amount to Roth IRA but didn't receive 1099-R.

[eeuaaa12]

Hi,

I made a nondeductible IRA contribution in 2020 and also converted the same amount to Roth IRA but still haven't received 1099-R from the brokerage. How can I correctly report this in the tax return?

Should I just file the return without the actual 1099-R?

[DanaB27 · Accepted solution]

Just to clarify, the conversion happened in 2020? If yes then please contact your bank because they are required to issue a 1099-R.

Please follow these steps to enter your nondeductible traditional IRA contribution:

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.

If the conversion happened in 2020 and you receive a 1099-R 2020 then please follow these steps:

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?" if you had any nondeductible contributions in prior years.
8. Answer the questions about the basis

To verify your entry you can check Form 1040 line 4:

1. Click on "Tax Tools" in the left menu
2. Click "Tools"
3. Click "View Tax Summary" in the Tool Center window
4. Click on "Preview my 1040" on the left

[eeuaaa12]

Thanks! Yes, the conversion was made in 2020. I guess I should contact the bank.