Your 1099-R will say code 2 in box 7 (or code 7 if your age is over 59 ½) . You should report your conversion for the year you receive this 1099-R:
- If you received this form in 2024, complete both steps below to report it on your 2024 taxes.
- If you'll receive this form in 2024, wait to report it on your 2024 taxes. In this case, only complete Step 1 below for your 2024 taxes. You’ll complete both steps next year when filing your taxes for 2024.
This link contains full instructions for Reporting a Back-Door Roth Conversion.
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