DanaB27
Expert Alumni

Retirement tax questions

To clarify, you show a taxable amount on line 4b of your Form 1040? 

 

If yes, did you have any earnings before the conversion? These would be taxable.

 

Did you have any other pre-tax funds in you Traditional/SEP/SIMPLE IRA accounts? Or enter a value more than $0 for the value on December 31, 2024?  If yes, then the pro-rata rule applies. This means that with each distribution/ conversion you will have a taxable and nontaxable part. You can see the remaining basis on line 14 of Form 8606, this basis can be carried forward.

 

Please review How do I enter a backdoor Roth IRA conversion?

 

@david289 

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