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Level 2
posted Feb 5, 2022 1:26:55 PM

Reporting Backdoor Roth - 1099R $12,XXX for 2020/2021

Getting sort of confused here. Back in Jan 2021 I made a $6k contribution to 2021 tIRA and converted to Roth. later that year (Sep 2021), I made the $6k contribution and converted to Roth. For the tax year of Jan 2020, I did fill out a 8606 which would have that $6k. Now for 2021, my 1099-R for the tIRA shows $12,XXX w/ a "2" distribution code and my 1099-R for the Roth IRA shows $6,XXX w/ an "R" distribution code. 

 

I did import both forms into TurboTax but is the 1099-R for the tIRA going to be an issue since half would have been applicable for 2020 and the other half I would enter in as a typical backdoor roth? Or how should I go about entering the info? 

0 3 346
3 Replies
Expert Alumni
Feb 5, 2022 7:45:10 PM

Please clarify: 

  1. Did you mean that January 2021 $6,000 contribution is for tax year 2020 instead of 2021?
  2. Do you have any other deductible IRA accounts with balances?

Level 2
Feb 5, 2022 9:44:43 PM

1. Whoops, yes, in Jan 2021 I made a contribution for 2020.

 

2. No I did not 

Level 15
Feb 6, 2022 4:44:34 AM

you were supposed to attach a 2020 Form 8606 that shows you made the election to have the first $6,000 be non-deductible.