I'm in the process of completing a late backdoor Roth IRA contribution, and I'd like guidance on how to report it in TurboTax accurately.
My spouse performed a backdoor Roth IRA contribution for 2023 and 2024 simultaneously in 2024. Specifically, she invested $6500 for the previous year (2023) and $7000 for the current year (2024). Furthermore, she accrued $6.59 in interest in her traditional IRA account before converting all funds (including $6.59 interest) to a Roth IRA account.
Could someone please outline the steps to report these late backdoor Roth IRA contributions in TurboTax properly? I also need assistance on accounting for the interest gained before the late backdoor Roth contributions.
I'm using TurboTax Deluxe Downloaded Software on Mac to file taxes and need guidance on accurately reporting late backdoor Roth IRA contributions.
Thank you in advance for your help!
