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Level 2

Question

Roth IRA Backdoor Conversion

Forum|Forum|5 years ago
May 15, 2021
1 reply
2 views

Hi, I did Roth IRA backdoor conversion last year (2020), for both the year 2019 and 2020. Therefore, I have $12000 on my 1099R. I followed the method from the link below to report it on TurboTax:

https://thefinancebuff.com/how-to-report-backdoor-roth-in-turbotax.html

I was only able to add the 2020 IRA contribution and there is no where to put in the 2019 one. What should I do to claim the 2019 contribution? Do I need to go back and file the 2019 tax amendment?

Level 15

Did you take a deduction in 2019 for contribution?

If no, the 2019 contribution must come forward from your 2019 Form 8606.

If yes, part of your conversion will be taxable.

huangddg84Author

Level 2

Thank you for the response.

No, I didn't take deduction (it's non-qualified due to exceeding income limit, thus the backdoor Roth conversion).

Can I claim the basis for 2019 to be $6000 in the 2020 tax form? This way, it correctly deducted off the $6000 for 2019 in 1099R.