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Retirement tax questions
The amount converted was only the contribution for 2024? Or also for 2023?
If you conversion include the 2023 contribution then you need to enter the basis from your 2023 Form 8606 line 14 when TurboTax askes about the prior year basis. This should be the nondeductible Traditional IRA contribution amount for 2023.
Your 2024 Form 8606 should have the contribution for 2024 on line 1 and the contribution for 2023 on line 2.
To confirm you show the conversion in part II of Form 8606?
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‎April 13, 2025
4:26 AM