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New Member
posted Feb 13, 2021 12:38:48 PM

Where do I enter Roth IRA conversions? All fidelity has provided is a 5498.

I've tried following the steps in the "backdoor conversion" tip but I don't think it applies. I was never provided a 1099-R as I never took any distributions. I just know that I need to pay tax on the conversion.

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2 Replies
Expert Alumni
Feb 13, 2021 12:52:56 PM

You might want to double check with fidelity if you did a conversion from a traditional IRA to a Roth IRA then you should get a 1099-R. When did this conversion happen?

 

Yes, conversions from a traditional IRA to a Roth IRA have to be included in your taxable income unless you had and tracked nondeductible contributions to your traditional IRA.

New Member
Feb 13, 2021 6:02:58 PM

Thank you for the quick reply!! The conversion was ~March 2020.

 

If I recall correctly, there were a couple operations performed close to one another:

  1. 401k(s) (all with Fidelity) to IRA rollover
  2. A portion of the resulting IRA was then converted to Roth.

The 5498 shows the beginning and Dec31st balances. But perhaps I've not waited long enough for Fidelity to issue the 1099-R. I can certainly check with them though.