Thank you! This was very helpful. Per your suggestion, I edited my 2024 tax info in turbotax online to document the March 2025 contribution for tax year 2024. It generated a Form 8606 for Tax Year 2024, which I will submit. (I did NOT submit amended returns, as nothing else changed.) Then I revised my 2025 tax information for just the $7k contribution(s) in Jan 2026. Now the Form 8606 for Tax Year 2025 in the 2025 return appears correct. Just one clarification - towards the end of the IRA section, turbotax asked me the balance of my Traditional IRA as of December 31, 2025 --> I put $0, since those funds had been converted to a Roth IRA. Is that the right way to document it? When I look at the 2025 Form 8606, both mine and my spouses look like:
Line 1 7000 (nondeductible contributions)
2 5001 (total basis)
3 12001 (1+2)
4 7000 (contributions in 2026 for tax year 2025)
5 5001 (4-3)
13 5000 (non-taxable distributions)
14 7001 (total basis for 2025 and earlier)
In Part II, the March 2025 conversion is documented:
Line 16 5000 (amount converted)
17 5000 (basis)
18 0 (Taxable amount)
This looks correct to me. Based on the info I provided, does it appear correct to you?
