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Backdoor conversion to Roth
I contributed $1,500 to a Traditional IRA with a $0 balance on Dec 23, 2023, and transferred the money to a Roth IRA on December 31. However, the transaction processing took a few days and the money was converted on January 5, 2024. I received the 2023 Form 5498 IRA Contribution, showing a $1,500 IRA contribution. I expect to receive the Form 1099-R in 2024. Should I report this conversion in 2024? What should I enter for 2023?
‎February 22, 2024
7:59 PM