![]() If you haven’t paid for your TurboTax Online filing yet, you can buy TurboTax download from Amazon, Costco, Walmart, and many other places and switch from TurboTax Online to TurboTax download. The downloaded software is way better than online software. The screenshots below are from TurboTax Deluxe downloaded software. See Make Backdoor Roth Easy On Your Tax Return. Contribute for both the previous year and the current year, then convert the sum during the same year. If you are already off by one year, catch up. Contribute for year Y in year Y and convert it during year Y. ![]() Contribute for year X in year X and convert it during year X. Don’t wait until the following year to contribute for the previous year. I called this a “ planned” Backdoor Roth - you’re doing it deliberately. You do yourself a big favor and avoid a lot of confusion by doing your contribution for the current year and finish your conversion in the same year. A conversion done during year Y after you made a contribution for year X goes on the tax return for year Y. Therefore a contribution made during the following year for year X goes on the tax return for year X. You also report your conversion to Roth *during* year X, whether the contribution was made for year X, the year before, or any previous years. You report on the tax return your contribution to a Traditional IRA *for* that year and your conversion to Roth *during* that year.įor example, when you are doing your tax return for year X, you report the contribution you made *for* year X, whether you actually did it during year X or between January 1 and April 15 of the following year. ![]() Non-Deductible Contribution to Traditional IRA. ![]()
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