The downloaded software is way better than online software. Here’s how to do it in TurboTax Deluxe downloaded software. You will need to account for it on your tax return. You will receive a 1099-R from the plan in the following year. Suppose your plan allows it and you executed a Mega Backdoor Roth. Not all plans allow non-Roth after-tax contributions but some estimated that 40% of people can do it. It’s a great way to put additional money into a Roth account without having to pay much additional tax. A Mega Backdoor Roth means making non-Roth after-tax contributions to a 401k-type plan and then moving it to the Roth account within the plan or taking the money out (with earnings) to a Roth IRA.
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