cthomas428
Level 2
03-20-2022
04:47 PM
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My client contributed $6000 to a Non-deductible traditional IRA in 2021 and immediately converted it to a Roth (so-called back-door Roth). She has no other IRAs. As expected, the 1099-R shows Code 2. The box is checked "Taxable amount not determined". And I checked the B-5 box at the bottom of 1099-R to show the entire amount had been converted to a Roth.
I have done these in the past (2019) and everything worked out fine. But for this 2021 tax software, the entire amount continues to show up as taxable, no matter what I do.
What am I missing? Is it a quirk in the software (or a quirk in me?)
Thanks for any pointers!
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