IRA/Backdoor Roth contribution - Reporting

thesaint580 · ‎March 19, 2020

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.

DavidD66 · ‎March 19, 2020

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.

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DavidD66 · ‎March 19, 2020

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.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

thesaint580 · ‎March 19, 2020

Awesome. Thanks so much.

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IRA/Backdoor Roth contribution - Reporting