Question

Broker not issuing a 1099-R for backdoor Roth conversion

Forum|Forum|5 years ago
July 14, 2020
1 reply
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I opened a new traditional IRA in 2020 and funded it with $6K (for 2019) which I immediately moved to a Roth. The broker is not issuing a 1099-R but instead saying a 5498 will be issued next year.

1. Is this right?

2. How do I capture this transaction in my 2019 return without a 1099-R? The instructions here @https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-a-backdoor-roth-ira-conversion/01/25567#M613 are based on receiving a 1099.

Not A Product Question

macuser_22

Employee

Yes they must issue a 1099-R but not until Jan 2021 if converted in 2020. That will go on your 2020 tax return next year.

Any conversion after Dec 31, 2019 is a 2020 conversion.

You can *contribute* to a 2019 IRA up to the 2020 due date of the return but conversion are on a calendar year basis.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**