Line 8 form 8606 is blank even though I have entered the amount under "Conversions to Roth IRA". Help! What am I doing wrong :(. No tax on the conversion too.

Forum|Forum|4 years ago
September 2, 2021
2 replies
16 views

My client had a back door roth conversion done in 2019, but it was filed as a regular conversion. I am trying to amend the 2019 return to include form 8606, but the amount converted isn't showing up on the form. There is also no tax be calculated on the conversion. Help please!

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Best answer by George4Tacks

In the Pensions screen for the distribution, did you check the box for Line 7 (IRA)?

Was there any prior year IRA basis?

Assuming yes to 1st question and No to second, you should get something like this

George4TacksAnswer

Level 15

In the Pensions screen for the distribution, did you check the box for Line 7 (IRA)?

Was there any prior year IRA basis?

Assuming yes to 1st question and No to second, you should get something like this

Answers are easy. Questions are hard!

B

bethbrownAuthor

Level 3

You are awesome and I am an idiot! Yes, I checked the box for Line 7 and there was no basis. My return looks exactly like yours. I just read the instructions wrong and thought the amount converted to a Roth IRA via a backdoor conversion was reported on line 8. Thank you so much and sorry to take up time being a dummy!

George4Tacks

Level 15

Don't feel bad, you are in a very large DUMMY group, including me. Senior moments start at birth.

Answers are easy. Questions are hard!

qbteachmt

Level 15

There would be no tax on conversion, because that's the point of "backdoor Roth." It is, in fact, a regular conversion. The function works because all funds in Traditional IRA are only basis, and when that is converted before there was time for any earnings, there is no tax on that conversion. That's why it is allowed and that's why it is called backdoor.

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