Backdoor Roth IRA - TurboTax
Channel: EA Tax Resolutions
Date: 13/07/2023

In this video we go over how to report a Backdoor Roth IRA contribution on your tax return using the TurboTax software online. We go over the Form 8606 on the tax return to report the nondeductible traditional IRA contribution, then converting the traditional IRA to the Roth produces a Form 1099-R with a code 2 which we then report on the tax return.

Please Use Our TurboTax Link: https://www.tkqlhce.com/click-100683865-11557904?url=https%3A%2F%2Fturbotax.intuit.com%2Flp%2Faff%2F4049%3F%26priorityCode%3D6099000412

EA Tax Resolutions Website: https://eataxresolutions.com/?utm_source=Youtube&utm_medium=Video&utm_campaign=Backdoor+Roth+IRA+-+TurboTax 
EA Tax Phone Number: 800-245-0596
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Amount of Roth IRA Contributions That You Can Make for 2022:
https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that-you-can-make-for-2022

Amount of Roth IRA Contributions That You Can Make for 2023:
https://www.irs.gov/retirement-plans/amount-of-roth-ira-contributions-that-you-can-make-for-2023


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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

#turbotax #rothira #backdoor