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Level 2
posted Feb 14, 2020 8:53:06 PM

non deductible contribution between January 1 and April 15,2020

I contributed to my traditional IRA in February 2020 - it will be a non deductible contribution; and eventually converted to Roth; Called broker company they said form 1099-R will not be generated this  calendar year for this account since it's after January 1. How do I report non deductible contribution in turbotax other than 'deduction and credits - retirement and investments - traditional and roth IRA contributions' ?

Could not see option to enter manually in 'wages & income - Retirement Plans and Social Security - IRA, 401(k), pension plan withdrawals (1099-R)'

0 2 1202
2 Replies
Level 15
Feb 14, 2020 9:17:33 PM

you don't need a 1099-R to enter a contribution, or to elect non-deductible.

got to the Retirement and investments section under DEDUCTIONS.

Level 15
Feb 15, 2020 4:42:18 AM

The Roth conversion performed in 2020 will be reported on your 2020 tax return.  Near the end of January 2021 you'll receive the Form 1099-R that you'll enter into 2021 TurboTax and indicate that you converted the distribution to Roth.  The amount from line 14 of your 2020 Form 8606 will transfer to line 2 of your 2021 Form 8606 to be used in calculation the taxable amount of your Roth conversion.