Hello everyone and thanks for your help.
In the calendar year 2023, I contributed to my traditional IRA twice: $6500 (For year 2023), $6000 (For year 2022) - I was told could do this within a certain timeframe in calendary year 2023. I then converted all $12,500 of it to a Roth account. I received a 1099-R, with a $12,500 conversion number.
My question is, how should I reflect this in TurboTax? The maximum I can write for my contribution in 2023 is $6,500 (2023 contribution), and there does not seem to be a place to notate my tax year 2022 contribution of $6,000 that I also did in calendar 2023.
Thank you.
Thank you.
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The nondeductible contribution for the 2022 should have been reported on your 2022 return. You should have a 2022 Form 8606 with a basis on line 14. You will enter this basis in your 2023 tax return when TurboTax asks "Any nondeductible Contributions to your IRA?".
Please review How do I enter a backdoor Roth IRA conversion? and see "If your conversion contains contributions made in 2023 for 2022"
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