@bhJogdt
I think we are past the point of making moves "before April 15" because, even if we figured out exactly what you wanted to do, and put in an order with your broker over the weekend, it probably won't settle in time. April 15 is one of their busiest days, and I doubt any move you try to make will settle in time.
So let's go back. You asked if it would be taxable, and the answer seems to be "partly." But we don't have all the facts, and if you want a more thorough discussion about the backdoor Roth IRA, then we need the facts. So to start...
1. You made a non-deductible IRA contribution in April 2023 that was for tax year 2023?
2. When did you do the Roth conversion? (2023 or 2024?). If the conversion was in 2023, you should already have the 1099-R. If the conversion was in 2024, you will get the 1099-R later.
3. If the non-deductible contribution was in 2023, you should have a form 8606 with your 2023 tax return. What are the values on:
line 1 (nondeductible contributions for 2023)
line 2 (prior nondeductible basis)
line 9 (total conversions and withdrawals)
line 14 (your new non-deductible basis as of 12/31/2023).
Also what is your approximate total balance in all traditional IRA accounts today? Include all traditional IRAs but do not include qualified workplace plans like 401k, 403b or other workplace plans. Even though they are similar to IRAs, they are not the same as IRAs and are covered under different laws and regulations.
