Enter your basis in the Traditional IRA from your 2021 Form 8606 line 14 (if you had a basis in the prior year).Answer the next questions until you get to “ Any Nondeductible Contributions to Your IRA?” and select “ Yes” if you had a nondeductible contribution before this tax year.Answer “ No” to the recharacterized question on the “ Did You Change Your Mind?” screen.Answer “ No” to “ Is This a Repayment of a Retirement Distribution?”.Click on " Search" on the top right and type “ IRA contributions”.Please don’t forget to enter your nondeductible traditional IRA contribution for 2022: If you don’t get the conversion question, then you might have to delete and reenter your Form 1099-R. Answer the questions about the basis from line 14 of your last filed Form 8606 ($100 from 2020) and the value of all traditional, SEP, and SIMPLE IRAs.Answer " yes" to " Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years ($100 from 2020).On the " Review your 1099-R info" screen click " Continue".Answer questions until you get to “ Tell us if you moved the money through a rollover or conversion” and choose “ I converted some or all of it to a Roth IRA”.Click "Continue" and enter the information from your 1099-R.Click on " Search" on the top right and type “ 1099-R”.Please review these steps conversion steps: You will report the 2022 Roth conversions when you enter your Form 1099-R and indicate in the follow-up questions that it was a conversions. However, what if system generates another 2 cents on the conversion date and leave $0.02 balance on my traditional account after Roth conversion? In this case, how to answer below questions? For example, traditional IRA is zero balance, and I contribute $2000, it stays in the account for a few business days till being cleared, on the date when I submit Roth Conversion request, the balance is $2000.08, and I convert all $2000.08 to Roth IRA. I also want to know how to answer the questions if I intend to convert all the balance, but there is a few cents interest generated by the system on the date of conversion. I also want to know how to answer below questions if I only convert part of traditional IRA to Roth IRA? (There is positive balance in traditional IRA) I converted all the balance to Roth IRA, and traditional IRA account is open with $0 balance, how to answer the questions? How should I answer those questions-What did you do with the money from TD Ameritrade Clearing, Inc? However, it asks additional questions after importing 1099-R. Based on below response, I type 1099-r in search box, now it allows me to import 1099-R. I have finished all questions, but still could not find to way to input 1099-R information for 2022.ĭid I miss anything? I am getting tired of Turbo Tax software.Įdit: When I walk through page to page, it does not ask information about 1099-R. 2022 is the first year I did backdoor roth conversion. It only asks Roth conversion before 2022 (while I never did roth conversion before). I have two 2022 form 1099-R for backdoor roth conversion, but Turbo Tax does not ask 2022 Roth conversion at all. Note: All my traditional IRA contribution is non-deductible, due to employer-sponsored pension plan.
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