topic IRA/Backdoor Roth contribution - Reporting in Get your taxes done using TurboTax

IRA/Backdoor Roth contribution - Reporting

thesaint580 — Thu, 19 Mar 2020 22:46:55 GMT

Hi,

I have a question on IRA contribution. I couldn't find the answer in the forums. I contributed to traditional IRA for 2019 in Feb 2020. Converted this amount to Roth IRA using backdoor immediately. When filing taxes for last year, do I just report the IRA contribution made for 2019 and report the conversion to Roth when I file my taxes in 2021? Please advise. Thanks.

Re: IRA/Backdoor Roth contribution - Reporting

DavidD66 — Thu, 19 Mar 2020 23:08:02 GMT

Yes, report the non-deductible IRA contribution for 2019. The conversion to a Roth IRA will result in your receiving a Form 1099-R next year. You will enter that on your 2020 tax return.

Re: IRA/Backdoor Roth contribution - Reporting

thesaint580 — Thu, 19 Mar 2020 23:31:38 GMT

Awesome. Thanks so much.