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Retirement tax questions
Thanks for your response.
So in my case, Since my $7000 contribution is not-deductible for 2024. I will file it in 8608 this year.
For my next year filing, Since I will be converting that non-deductible IRA contribution of 2024 to Roth in 2025, do i still need to pay tax on my 1099-R amount ?
How should I enter 1099-R in 2025 return to avoid paying tax again on my non-deductible investment ? Will 2024's 8608 will help me to avoid paying tax on that 1099-R in 2025 ?
March 27, 2025
3:40 PM