backdoor roth IRA

2Double — Fri, 14 Mar 2025 23:54:34 GMT

Hi, A friend of mine contributed to IRA and then converted to roth IRA. He has received form 1099-R and has imported it. It is shown under "wages and income" section but nothing is entered under "deductions and credits/traditional and roth IRA" section. What's the issue? Does he need to enter anything under deduction and credit section for traditional and roth IRA? form 8606 is shown under the forms and has the numbers for roth IRA. thanks

Re: backdoor roth IRA

DanaB27 — Sat, 15 Mar 2025 11:42:04 GMT

Yes, if your friend made traditional IRA contributions for 2024 then this will be entered under Deductions & Credit.

To enter the nondeductible contribution to the traditional IRA for 2024:

Login to your TurboTax Account
Click on "Search" on the top right and type “IRA contributions”
Click on “Jump to IRA contributions"
Select “traditional IRA”
Answer “No” to “Is This a Repayment of a Retirement Distribution?”
Enter the amount you contributed
Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had a nondeductible contribution before this tax year.
Enter your basis in the Traditional IRA from your 2023 Form 8606 line 14 (if you had a basis in the prior year)
On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount (if you have a retirement plan at work and are over the income limit it will be nondeductible automatically and you only get a warning and then a screen saying $0 is deductible).

Please see How do I enter a backdoor Roth IRA conversion? for additional information.

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backdoor roth IRA

Re: backdoor roth IRA