After filing my 2024 Form 1040, I have decided to fund a back door Roth IRA (my AGI is above the threshold for a deductible IRA contribution). I plan to pay $7000 as a nondeductible IRA contribution for 2024. Today is 3/14/25. In a month I will transfer the $7000 to a Roth IRA.
Questions:
1. How do I fill out boxes 1-14 on the 2024 Form 8606?
2. Will the conversion to the Roth be reported on the 2024 Form 8606 or next year in 2025 (Form 8606 boxes 16 & 17)?
Thanks
