@user17579950372 wrote:
Your assumptions are correct but i just checked my tax return from 2024 - it looks like the turbo tax expert that did my taxes did not include a 8606 form. However a 5408 form is available on my fidelity account. What do I do?
Form 5498 is produced by the broker for your records, it is not filed with any tax return.
At some point before filing your 2025 return, you need to file an amended 2024 return to report the non-deductible IRA contribution. Contact your expert or customer support for assistance.
Then, you will need a copy of the 2024 tax return including form 8606 to prepare your 2025 tax return, that will contain the 2025 traditional IRA contribution and the Roth conversion.
