Married filing jointly. After filing my 2024 taxes in Feb 2025, I made a traditional IRA contributions of $5k and a traditional IRA contribution of $5k for my wife for tax year 2024 (in early April). This contribution was non-deductible. We immediately did a backdoor Roth conversion of the full amounts. I mistakenly did not file a Form 8606. Now I am completing my 2025 taxes. In January 2026, I made a $7k contribution into each IRA and immediately completed backdoor Roth conversion. I was intending that to be a tax year 2025 contribution.
I'm having trouble getting the Form 8086 to be correct. When I first went through everything, it is documenting the two $5k contributions as for tax year 2025 instead of 2024. I want it to show $7k for each of us for tax year 2025. I will separately file a Form 8086 for tax year 2024 (and pay the $50 penalty, I assume). How do I get the Form 8086 for tax year 2025 to correctly indicate $7k in contributions for both me and my spouse? Is there a way to file the 2024 Form 8086 via TurboTax or do I have to do that on my own? (I filed using TurboTax both years.)
