In 2024, we had a 2023 backdoor Roth contribution and a 2024 backdoor Roth contribution. For the 2023 tax filing we submitted our form 8606 for $14,000 total ($6500 for my wife, $7500 for me). Both the 2023 contribution and the 2024 contribution are appearing on our form 1099-R, as expected.
But after following all of the instructions step by step, our 2024 Form 1040 isn't correct. Line 4b should be $0. But instead it's showing the $14,000 and says ROLLOVER. This is incorrect. And the result is it's showing that we owe thousands of dollars that we should not owe. Is there a trick I'm missing? Is there a problem with the Online tool? I've now been working on this for 5 hours, have deleted forms and reloaded, have read a dozen online articles. I need help. Extremely frustrated.
