dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Get your taxes done using TurboTax

I assume that both the contribution and the conversion occurred in 2024.  Simply:

  1. Enter an $8,000 traditional IRA contribution
  2. Enter the 2024 Form 1099-R that shows the $8,004.63 Roth conversion, indicate that you moved some or all of the money to a different retirement account, that you did a combination of rolling over, converting and cashing out, then indicate that the entire $8,004.63 was converted to Roth.

These are two independent transactions other than the fact that the traditional IRA contribution adds to your basis in nondeductible traditional IRA contributions and the Roth conversion subtracts from this basis, all shown on Form 8606 Parts I and II.

View solution in original post