where do I record a payment to the irs for a Roth conversion

[SabrinaD2]

To record a Roth conversion payment in TurboTax, follow these steps and see additional information here:

Step 1: 

 Log in to Turbo Tax - must be logged in for some links to work:

1. Go to the Traditional IRA and Roth IRA screen, check the Traditional IRA box and select Continue.
2. On the Is This a Repayment of a Retirement Distribution? screen, select No.
3. On the Tell Us How Much You Contributed screen, enter the amount contributed and select Continue.
4. On the Did You Change Your Mind? screen, select No, then answer the questions on the following screens.
5. When you reach the Choose Not to Deduct IRA Contributions screen:
   1. Select Yes, make part of my IRA contribution nondeductible.
   2. Enter the amount you contributed.
   3. If none of your contribution can be deducted, you won't see the option to make part of it nondeductible. Instead, the full amount of your contribution will automatically be nondeductible.
   4. Select Continue.
6. On the Your IRA Deduction Summary screen, review the info and select Continue.

Step 2:  Enter the Conversion from a Traditional IRA to a Roth IRA

1. Go to Wages & income.
2. On the Your income and expenses screen, locate and select the Retirement Plans and Social Security section, then select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).
3. Answer Yes to Did you get a 1099-R in 2024?, then Continue.
   • If you land on the screen Review your 1099-R info select Add Another 1099-R.
4. Select how you want to enter your 1099-R (import or type it in yourself) and follow the instructions.
5. Answer the questions on the following screens, until you reach Tell us if you moved the money through a rollover or conversion.
6. Select I converted some or all of it to a Roth IRA and Continue.
7. Next, choose Yes, all of this money was converted to a Roth IRA.
8. Continue answering questions until you come to the screen Review your 1099-R info.

To check the results of your backdoor Roth IRA conversion, see your Form 1040:

1. From the menu, select Tax Tools, then Tools (if you're currently using the TurboTax Mobile app, you'll need to sign in to the web browser version).
2. Under Tools Center, select View Tax Summary.
3. From the side menu, select Preview my 1040.
   • Your backdoor Roth IRA amount should be listed on Form 1040, Line 4a as IRA distributions.
   • Taxable amount should be zero unless you had earnings between the time you contributed to your Traditional IRA and the time you converted it to Roth IRA, in which case the earnings would be taxable.
   • Schedule 1, Line 20, IRA deduction should be blank.
4. Select Back to return to where you left off in TurboTax.

[SabrinaD2]

Here's how to record a payment to the IRS for a Roth Conversion using TurboTax Online.  For additional information click here.

Step 1: 

 Be sure you are logged into TurboTax for links below to work:

1. Go to the Traditional IRA and Roth IRA screen, check the Traditional IRA box and select Continue.
2. On the Is This a Repayment of a Retirement Distribution? screen, select No.
3. On the Tell Us How Much You Contributed screen, enter the amount contributed and select Continue.
4. On the Did You Change Your Mind? screen, select No, then answer the questions on the following screens.
5. When you reach the Choose Not to Deduct IRA Contributions screen:
   1. Select Yes, make part of my IRA contribution nondeductible.
   2. Enter the amount you contributed.
   3. If none of your contribution can be deducted, you won't see the option to make part of it nondeductible. Instead, the full amount of your contribution will automatically be nondeductible.
   4. Select Continue.
6. On the Your IRA Deduction Summary screen, review the info and select Continue.

Step 2:  Enter the Conversion from a Traditional IRA to a Roth IRA

1. Go to Wages & income.
2. On the Your income and expenses screen, locate and select the Retirement Plans and Social Security section, then select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).
3. Answer Yes to Did you get a 1099-R in 2024?, then Continue.
   • If you land on the screen Review your 1099-R info select Add Another 1099-R.
4. Select how you want to enter your 1099-R (import or type it in yourself) and follow the instructions.
5. Answer the questions on the following screens, until you reach Tell us if you moved the money through a rollover or conversion.
6. Select I converted some or all of it to a Roth IRA and Continue.
7. Next, choose Yes, all of this money was converted to a Roth IRA.
8. Continue answering questions until you come to the screen Review your 1099-R info.

To check the results of your backdoor Roth IRA conversion, see your Form 1040:

1. From the menu, select Tax Tools, then Tools (if you're currently using the TurboTax Mobile app, you'll need to sign in to the web browser version).
2. Under Tools Center, select View Tax Summary.
3. From the side menu, select Preview my 1040.
   • Your backdoor Roth IRA amount should be listed on Form 1040, Line 4a as IRA distributions.
   • Taxable amount should be zero unless you had earnings between the time you contributed to your Traditional IRA and the time you converted it to Roth IRA, in which case the earnings would be taxable.
   • Schedule 1, Line 20, IRA deduction should be blank.
4. Select Back to return to where you left off in TurboTax.

[SabrinaD2]

Here's how to record a payment to the IRS for a Roth Conversion using TurboTax Online.  For detailed step-by-step, click here or see below.

Step 1: 

 Be sure you are logged into TurboTax for links below to work:

1. Go to the Traditional IRA and Roth IRA screen, check the Traditional IRA box and select Continue.
2. On the Is This a Repayment of a Retirement Distribution? screen, select No.
3. On the Tell Us How Much You Contributed screen, enter the amount contributed and select Continue.
4. On the Did You Change Your Mind? screen, select No, then answer the questions on the following screens.
5. When you reach the Choose Not to Deduct IRA Contributions screen:
   1. Select Yes, make part of my IRA contribution nondeductible.
   2. Enter the amount you contributed.
   3. If none of your contribution can be deducted, you won't see the option to make part of it nondeductible. Instead, the full amount of your contribution will automatically be nondeductible.
   4. Select Continue.
6. On the Your IRA Deduction Summary screen, review the info and select Continue.

Step 2:  Enter the Conversion from a Traditional IRA to a Roth IRA

1. Go to Wages & income.
2. On the Your income and expenses screen, locate and select the Retirement Plans and Social Security section, then select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).
3. Answer Yes to Did you get a 1099-R in 2024?, then Continue.
   • If you land on the screen Review your 1099-R info select Add Another 1099-R.
4. Select how you want to enter your 1099-R (import or type it in yourself) and follow the instructions.
5. Answer the questions on the following screens, until you reach Tell us if you moved the money through a rollover or conversion.
6. Select I converted some or all of it to a Roth IRA and Continue.
7. Next, choose Yes, all of this money was converted to a Roth IRA.
8. Continue answering questions until you come to the screen Review your 1099-R info.

To check the results of your backdoor Roth IRA conversion, see your Form 1040:

1. From the menu, select Tax Tools, then Tools (if you're currently using the TurboTax Mobile app, you'll need to sign in to the web browser version).
2. Under Tools Center, select View Tax Summary.
3. From the side menu, select Preview my 1040.
   • Your backdoor Roth IRA amount should be listed on Form 1040, Line 4a as IRA distributions.
   • Taxable amount should be zero unless you had earnings between the time you contributed to your Traditional IRA and the time you converted it to Roth IRA, in which case the earnings would be taxable.
   • Schedule 1, Line 20, IRA deduction should be blank.
4. Select Back to return to where you left off in TurboTax.