Permalink Submitted by Alan - IRA critic on Mon, 2021-06-14 21:02
There is no limit. If done from the same TIRA account, the 1099R will just add them up. For example, if a 2020 contribution made in 2021 was converted to Roth and a later 2021 contribution was also converted to Roth, both using the back door process, the 1099R would just add them up. Or if the conversions were done from different TIRA accounts, there would be multiple 1099Rs issued, and the taxpayer would just add them up and report them on Form 8606. It makes no difference if the conversions are done by direct transfer or by 60 day rollover, since the one rollover limitation does not apply to conversions.
Permalink Submitted by Alan - IRA critic on Mon, 2021-06-14 21:02
There is no limit. If done from the same TIRA account, the 1099R will just add them up. For example, if a 2020 contribution made in 2021 was converted to Roth and a later 2021 contribution was also converted to Roth, both using the back door process, the 1099R would just add them up. Or if the conversions were done from different TIRA accounts, there would be multiple 1099Rs issued, and the taxpayer would just add them up and report them on Form 8606. It makes no difference if the conversions are done by direct transfer or by 60 day rollover, since the one rollover limitation does not apply to conversions.