turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

IRA backdoor conversion

I know there is a thread about backdoor conversion, but I need help for my specific situation.  We made a contribution of $6500 to a traditional IRA on 4/16/2018 for the 2017 tax year.  We made a $6500 contribution on 4/16/2018 to a traditional IRA also on 4/16/2018 for the 2018 tax year.  Total $13,000.  On 3/19/2019 these contributions were converted to a roth and I now have a 1099 R reporting distribution of $13,867.68.  Box 7 is marked "2", the box for IRA/SEP/Simple is marked with an X.    How in the heck do I report this on my 2019 tax return.  Do I need to make any kind of amendment to my 2018 return?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

IRA backdoor conversion

You should have submitted a 2017 8606 form that reported the non-deductible  contribution on line 1 and a 2018 8606 for that years contribution with the total on line 14.   The total of all contributions (assuming no distributions)  would be on line 14 of the last filed 8606 which is then used as your basis for the 2019 distribution/conversion.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Anonymous
Not applicable

IRA backdoor conversion

did you take a tax deduction for either of the traditional IRA contributions? 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question