turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Roth

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.  

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DanaB27
Expert Alumni

Roth

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"
 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies