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Backdoor Roth IRA – Deductions & Credits: Should I Select Roth IRA in Addition to Traditional IRA if I Only Did a Conversion?
Hi,
My spouse and I contributed to a Traditional IRA for 2024 and later converted the full amount to a Roth IRA in 2024 itself (Backdoor Roth IRA). We did not contribute directly to a Roth IRA.
While going through the Deductions & Credits section in TurboTax, I noticed an option to select the type of IRA we contributed to. Should I select only Traditional IRA, or should I select both Traditional and Roth IRA since we converted the amount?
Also, do I need to do anything special in TurboTax to correctly report this conversion and avoid double taxation?
Just to clarify, we both contributed and converted in 2024, not in 2025 for the 2024 tax year.
Below is the screenshot of what I am referring to. Thanks!
Topics:
March 16, 2025
8:37 PM