AnnetteB6
Expert Alumni

Deductions & credits

Yes, that is all you need to do for your 2023 tax return.  Double check your Form 8606 line 1 to be sure that the Traditional IRA contribution is being reported as non-deductible.

 

Otherwise, wait until you file your 2024 return to report the Form 1099-R that represents the conversion of the Traditional IRA to the Roth IRA.  Conversions are reported by calendar year when the take place instead of being designated for a particular tax year like an IRA contribution.  

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