RachelW33
Expert Alumni

Retirement tax questions

Form 8606 is a form that you need to include with your 2023 tax return by following the steps listed in my previous answer.  It is not a form that is mailed to you by the brokerage.

 

Next year around this time, the brokerage will mail you a Form 1099-R that you will need to include on your 2024 tax return.

 

So in summary, you will report your non-deductible traditional IRA contribution on your 2023 tax return following the steps here.  And then next year on your 2024 tax return, you will report the 1099-R that the brokerage will mail to you which reports the conversion from the traditional IRA to the Roth IRA.

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