Get your taxes done using TurboTax

ok trying this without the link...

 

Your IRA contribution is $8000 which is the max for 2024 assuming you're over 50.  Also assuming you have a Modified AGI above the limit for your filing status for this to be entirely non-deductible, and you have "earned income" of at least $8000.

 

For the conversion there are two parts:

1) The MV of 0 feeds thru to Form 8606 Line 6 which is meant to tell 8606 about your entire IRA situation, in this case a single account now at zero

2) You need to input the 1099-R along with the "what did you do with the money" question where you specify in TT how much was a Roth conversion, which will feed 8606 Lines 7+8

 

You don't need to input the $4.63 specifically, Form 8606 should spit that out - recommend reviewing the line items on 8606 in forms view.

 

Vanguard probably hasn't released your 1099-R yet, if not you can mock it up in TT to test the process, but do not rely on this for final filing please wait/update based on final 1009-R from Vanguard.  You need to plug 8004.63 in Box 1+2, check 2b "taxable amount not determined", code 2 in Box 7, and check "IRA/SEP/SIMPLE" box.

 

You will also get Form 4598s for the IRAs which just confirm the transactions and market values but these are not needed for filing.  If you did the conversion in calendar year 2024 you may get one from Vanguard in the next few weeks, otherwise final 4598s are sent in May due to transactions done up until filing deadline.

 

Again caveat I'm not a CPA/Expert - just my 2 cents to the best of my knowledge/experience.