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I contributed and then performed a backdoor Roth in Feb '18 for '17 tax year. My broker will not give a 1099. How do I report my '17 tax year backdoor Roth w/o a 1099?

Forum|Forum|7 years ago
June 6, 2019
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I contributed to my traditional IRA in Feb 2018 for the 2017 tax year. I then perform a backdoor Roth conversion on that contribution in 2018 again for the 2017 tax year. I talked to my broker and they said no 1099 R will be issued for that contribution/distribution. But, instead a 1099 R will be issued in 2019 for the 2018 tax year that will document my 2017 tax year contribution/distribution. My question is how do I report this 2017 tax year backdoor Roth conversion without a 1099 R for the 2017 tax year?

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Best answer by dmertz

Only your traditional IRA contribution for 2017 gets reported on your 2017 tax return. The Roth conversion performed in 2018 must be reported on your 2018 tax return. These are two separate transactions. Your basis in nondeductible traditional IRA contributions will appear on line 14 of your 2017 Form 8606 will carry forward to line 2 of your 2018 Form 8606.

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dmertzAnswer

Employee

Only your traditional IRA contribution for 2017 gets reported on your 2017 tax return. The Roth conversion performed in 2018 must be reported on your 2018 tax return. These are two separate transactions. Your basis in nondeductible traditional IRA contributions will appear on line 14 of your 2017 Form 8606 will carry forward to line 2 of your 2018 Form 8606.

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russellpsi

With doing the above process, i, 2019 when I file TurboTax 2018 return, I will start with a basis (ie of 5500) although the funds were only temporarily in IRA as it was shortly there After converted?