IRA/Backdoor Roth contribution - Reporting

Forum|Forum|6 years ago
March 19, 2020
1 reply
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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.

Best answer by DavidD66

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.

DavidD66Answer

Level 15

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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