"The contribution that you are making is for 2024. So if you had made it during the year it would have been included in the December 31 balance, right?" Agreed.
"You're getting a do-over to add it to that balance even though you're putting it in late. So you need to add it to the balance." I understand what you are saying. But if this is the case, why doesn't the 8606 instruction state that? The IRS instructions are very detailed about these special situations, like to include the 2025 contribution for 2024 on Line 1.
