Financial Products

Financial Products

Questions about financial product options? Find discussions around a wide variety of financial service products here. Looking for your first debit card or a seasoned saver looking for tips to build your bank account, this is a great place to share and learn.

Posts: 1
Registered: ‎03-08-2018

Back Door Roth Questions


In my 2017 1099R, it shows $11,124 as taxable amount.  This amount can be explained in three parts:


1) I contributed $5,500 in 2016 to traditional IRA and converted it in 2017. 

2) I also contributed $5,500 in 2017 to traditional IRA and converted to Roth in 2017. 

3) And the balance of $124 are the gains which I believe should show up as taxable income.


I am struggling with how to report this, in particular item #1 above, in the H&R Block software, as I understand both 1 and 2 to be non-taxable events.


The way I have done it currently is as follows:

- I entered in my 1099R info in the income interview

- In the IRA contributions section, I answered in the following fashion: check the box for traditional IRA, traditional IRA contribitoins = $5,500 (to reflect #2 per above), No recharacterizations, Total basis in traditional IRAs = $5,500 (to reflect #1), "Yes" to converting all of distributions,

- in the "taxes" section, when it asks me if I made any excess contributions to IRA, I answer "zero"


Any experts out there who have dealt with this situation... I'd value your opinion.  thank you!


Associate (Neighbor)
Posts: 487
Registered: ‎01-31-2014

Re: Back Door Roth Questions

[ Edited ]

When you convert from a traditional IRA to a Roth IRA that IS a taxable event!  So, based upon your middle paragraph you have misunderstood.  I am taking from this you meant these were deductible traditional IRA contributions, that were then converted.