topic You've got something here that is sometimes called a "Bac... in Retirement tax questions

How do I enter the non-taxable portion of a non-deductible Traditional IRA rollover to a Roth IRA in Turbo Tax. My financial institution doesn't calculate this, so I filled out a form F8606, but I can't find a way to enter this information.

marcalaroe — Thu, 06 Jun 2019 06:07:05 GMT

You've got something here that is sometimes called a "Bac...

DexterS — Thu, 06 Jun 2019 06:07:07 GMT

You've got something here that is sometimes called a "Backdoor Roth"

A Backdoor ROTH conversion consists of two parts.

The nondeductible contribution
The non-taxable distribution

To record the nondeductible contribution in TurboTax Deluxe do the following:

Federal Taxes >> Deductions & Credits >>Scroll Down to >> Traditional and Roth IRA Contributions
Select >> Start/Update
Traditional IRA and Roth IRA >> Select >> Traditional
Did (Name) Contribute To a Traditional IRA >> Select >> Yes
Was This a Repayment of a Retirement Distribution? >> Select >> No
Tell Us How Much You Contributed >> Fill In as appropriate >> Select >> Continue
Did You Change Your Mine? >> Select >> No
Retirement Plan at Work >> Select >> Yes/No
Any Excess IRA Contributions Before 2016 >> Select >> Yes/No
Any Nondeductible Contributions to (Name) IRA? >> Select >> Yes >> Select >> Continue
Let’s Find Your IRA Basis >> Fill In as appropriate >> Select >> Continue
Income Too High To Deduct an IRA Contribution >> Select >> Continue
Choose Not to Deduct IRA Contributions >> Select >> Yes >> Select >> Continue
Your IRA Deduction Summary >> Your IRA Deduction >> $0 >> Select >> Continue

Now we’ll report the Non-taxable distribution into the Roth

Federal Taxes >> Wages & Income >> Select >> I’ll choose what I work on
Scroll Down to >> Retirement Plans and Social Security >> IRA, 401(k), Pension Plan Withdrawals (1099-R) >> Select >> Start/Update
Your 1099-R >> Select >> Yes >> Select >> Continue
Let Us Enter Your 1099-R >> Select >> I’ll type it myself >> Select >> Continue
Tell Us Which 1099-R You Have >> Select >> 1099-R >> Select >> Continue
Fill In as appropriate >> Select >> Continue
Let Us Know a Little More About This Distribution >> Select >> From a traditional IRA
Is this IRA subject to an early withdrawal penalty >> Select >> No >> Select >> Continue
Did (Name) Inherit This (Name) IRA? >> Select >> No >> Select >> Continue
What Did You Do With The Money From Fidelity? >>
Select >> (Name) moved the money to another retirement account >>
Select >> (Name) converted all of this money to a Roth IRA >> Select >> Continue
Move Funds? >> Select >> No (Name) left the money in the Roth IRA >> Select >>Continue

how I can do this?I follow "The non-taxable distribution"...

app1hxw — Thu, 06 Jun 2019 06:07:10 GMT

how I can do this?I follow "The non-taxable distribution" steps. but result, I still need pay tax for them ,
How can I think thia, because after I finished get pay Tax, for example, $6600. But if I delete 16000 my 1099R form, I need pay 2872. So I think I still pay tax for my non-taxable distribution.

Re: You've got something here that is sometimes called a "Bac...

vish1020 — Sat, 15 Feb 2020 14:16:47 GMT

I contributed to 2019's 6k to traditional IRA and converted to Roth , both in February 2020- fidelity did not send 1099-R they said it will be available on May 31 2020; How can I file 5498 / substitute for 1099-R in turbotax ?

Re: You've got something here that is sometimes called a "Bac...

fanfare — Sat, 15 Feb 2020 20:25:26 GMT

you don't need a 1099 to report a non-deductible contribution.

go to Retirement and investments under DEDUCTIONS.

your conversion will be reported next time.

Re: You've got something here that is sometimes called a "Bac...

firedrake123 — Tue, 13 Feb 2024 06:07:18 GMT

This is not working correctly in latest turbotax online

I made non deductible contribution to IRA. Followed all the instructions here. When i fill up 1099-R form in turbotax, it still adds tax. On form 1099R, if i make Box2a - 0 , then it correctly removes the additional tax.

For some reason, turbotax is still not able to recognize Box2a as non taxable income.

Re: You've got something here that is sometimes called a "Bac...

AnnetteB6 — Tue, 13 Feb 2024 16:01:08 GMT

You should not change any information that was reported on your Form 1099-R, enter it exactly as you have received it.

Entering a backdoor Traditional IRA to Roth IRA conversion can be tricky as it is a two-step process to report it completely. In general, it is a non-taxable event, but if the Traditional IRA distribution included any earnings or previous deductible contributions, then the conversion will incur some income tax on those amounts.

Take a look at the following TurboTax help article to be sure you covered all the steps:

How do I enter a backdoor Roth IRA conversion?

@firedrake123

Re: You've got something here that is sometimes called a "Bac...

firedrake123 — Tue, 13 Feb 2024 20:14:30 GMT

I figured it out. I had to enter 0 in the question ' Do you have any basis on Dec,31,2023'. I had wrongly added the rolledover amount instead of 0