DanaB27
Expert Alumni

Get your taxes done using TurboTax

No, you cannot enter $0, you need to enter the value of all your traditional/SEP/SIMPLE IRAs on December 31, 2024. This includes the 401k funds that are now in your traditional IRA. Since you had pre-tax funds from your 401k rollover in your traditional IRA the pro-rata rule applies. This means that with each distribution/ conversion you will have a taxable and nontaxable part.

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