![]() Sometime in 2019: Contributed $2K to Roth IRA for Year 2019Ģ020 January: Realized 2019 income will be too high, so recharacterized $2K to IRA.Ģ020 January~April: Contributed $4K to traditional IRA and then backdoor converted to Roth for year 2019 ![]() except I've not been able to figure out how to enter this into turbo tax. Answer the questions on the following screens, until you reach Choose Not to Deduct IRA Contributions.I have a situation very similar to.Answer No on the Did You Change Your Mind? screen.On the Tell Us How Much You Contributed screen, enter the amount contributed and continue.Answer No to Is This a Repayment of a Retirement Distribution?.Select Traditional IRA on the Traditional IRA and Roth IRA screen and Continue.Inside TurboTax, search for ira contributions and select the Jump to link in the search results.Open your return if it’s not already open.Step 1: Enter the Non-Deductible Contribution to a Traditional IRA You have to have earned income entered in order to get to the screen in 1.7 - Choose not to deduct IRA contributions. You may want to delete the 1099-r you started and then go through all of the steps again, slowly, carefully reading each step below. ![]() You should see a Jump to 1099-r link in the search results. In the search box, type 1099-r and hit enter. Step 2.1 is just to get you to the 1099-R section of the software. This screen will be after the warning that your contribution isn't deductible because of your are the Online instructions below. As mentioned in my instructions step 10: " If you have a retirement plan at work and are over the income limit it will be nondeductible automatically and you only get a screen saying $0 is deductible". To deduct a contribution, you can't have a MAGI over $125,000 while being covered by a retirement plan at work" is not an error. Please be aware, the statement " modified adjusted gross income (MAGI) is $xxx,xxx which puts over the limit for IRA deductions. Then these amounts will be listed in line 4 Form 1040. If you had distributions/ conversions from a traditional IRA then please make sure the IRA/ SEP/ SIMPLE box is checked. None of the Forms had the IRA/ SEP/ SIMPLE box checked. It seems as if you only had distributions from pension plans when I looked at your Form 1099-R entries. For your spouse, you will only enter the nondeductible traditional IRA contribution for 2021 on your 2021 tax return, unless you had some other amount I reviewed the information, thank you. Trbelair, did your spouse convert a traditional to Roth IRA in 2021? The $7,000 contributed in 20 will be converted in 2022 and the conversion has to be entered on your 2022 tax return.
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