Hi! I am attempting to complete my 2024 taxes and am very confused on how to complete the 8606 form.
I completed my backdoor Roth for 2023 and 2024 in the 2024 year. I received my 1099-R from Fidelity showing that I have a total of $12998. After looking closer, the timeline is as follows:
March 2024: added $6500 to my IRA
March 2024: transferred $5998 to my Roth (due to losses from investments)
September 2024: added $7000 to my IRA
September 2024: transferred $7000 to my Roth
I did not realize that I had such a loss when I did the rollover in 2023, therefore when I did my taxes for 2023, I completed the form 8606 as the $6500.
I am confused on how to amend my 2023 taxes. I am even more confused on how to complete my split-year backdoor Roth without also having to amend it in the future.
I currently have: 1) $7000, 2) 5998, 3) 12998, 5) 12998, 10)x, 13) 12998, 14) 0, 15a) 0, 15c) 0
Does this seem correct?
