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Retirement tax questions
Then you are fine. But check form 8606 to be sure.
Technically, the pro-rate rule is still applied, because everything you did in 2024 is reported on one tax return. Suppose you have $10,000 of deductible contributions and gains, and $7000 of non-deductible contributions. Your form 8606 should show zero basis at the beginning of the year, $7000 of non-deductible contributions, $17,000 of conversion, of which 59% is taxable ($10,000), and zero basis at the end of the year. But the result is what you want it to be.
‎April 7, 2025
7:33 AM