Hello,
I have been making backdoor Roth IRA contributions (converting nondeductible/after-tax traditional IRA contributions) since 2018.
For 2018, i made $5,500 contribution in early 2019. since i contributed in 2019, I didn't receive the 1099-R for $5500 for 2018 so i forgot to file for 2018.
For 2019, i made $6000 contribution in early 2020. I received 1099-R $5500 for 2019 but i forgot this contribution was for 2018 and i filed for $5500 for 2019. But the $6000 contribution for 2019 was not filed.
For 2020, i made $6000 contribution before end of 2020. Since i made $6000 contribution in early 2020 for 2019 and another $6000 end of 2020 for 2020, i received 1099-R for 2020 for $12,000.
How should i make the correction in Turbo Tax to reflect the correct contributions for each year?
Thanks,
Vincent
You'll need to sign in or create an account to connect with an expert.
you don't get a 1099-R for a contribution.
If you want to avoid tax on a conversion, you have to make the non-deductible election for the contribution you are planning to convert. That goes on the tax return for the year for which the contribution applies.
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