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Retirement tax questions
For 2024, you will complete the 8606 to report the nondeductible 2024 traditional IRA contribution (made in 2025) only. You do not need the 1099-R for this. Next year you will receive the 1099-R for the conversion and will report it and the 2026 nondeductible contribution.
There will be no problems reporting the $14,000 conversion for 2025 because that is when you made the conversions which is acceptable.
You may want to book mark this link with the instructions- because you will be doing the first part now and report the conversion in 2026. How do I enter a backdoor Roth IRA conversion?
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March 16, 2025
2:46 PM