Dear @DanaB27 and Turbotax Experts,
I am hoping you can confirm how my Form 8606 should look for tax year 2025, when I work on my taxes next Spring.
In March 2025, I contributed $7,000 to a non-deductible traditional IRA for tax year 2024 and immediately converted to a ROTH IRA (backdoor).
In April 2025, I will be contributing an additional $7,000 to a non-deductible traditional IRA for tax year 2025 and will immediately convert to a ROTH IRA (backdoor).
When filing for tax year 2025 (in 2026), I will be reporting:
- 2024 conversion ($7000) in March 2025, and
- 2025 contribution and conversion ($7000) in April 2025.
In 2026, when filing for tax year 2025, should my 8606 look like this?
Line 1: 7000
Line 2: 7000
Line 3: 14,000.
Line 4: 0 (My contribution for the 2025 tax year will *not* have been made from January 1, 2026 - April 15, 2026).
Line 5: 14,000.
Line 6: 0.
Line 7: 0.
Line 8: 14,000.
Line 9: 14,000.
Line 10: 1.000
Line 11: 14,000.
Line 12: 0.
Line 13: 14,000.
Line 14: 0.
Line 15: 0.
Line 16: 14,000.
Line 17: 14,000.
Line 18: 0.
Thank you for your help! I appreciate it.
