Thank you, I appreciate it. That is helpful to know there is only 1 Form 8606, unless there is a spouse too. The only related question came up was:
Tell us the total value of your traditional IRA. Enter the total value of the traditional IRA, SEP, and SIMPLE IRA accounts on 12.31.2024. This information is sent by mail on Form 5498. Do not include Roth IRAs.
Enter any outstanding 2024 rollovers and recharacterizations that were not completed until 2025.
Values of the IRA as of 12.31.2024 $______
Outstanding Rollovers $_____
Outstanding Recharacterizations $_____
I don't have any money in my Traditional IRA, did not receive Form 5498, and the Traditional IRA to Roth happened in 2024. So I put $0 in each line item. Should there be a different question that comes up?
