- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Conversion of after tax Traditional IRA contribution to Roth IRA
In February 2025 I contributed USD 7k after tax to my Traditional IRA (after tax due to exceding of income limitation) and converted USD 6912 to Roth IRA for the year of 2024 (I converted USD7K, but they were in stocks, so value changed). For 2024 I reported 8606 also with USD 7k after tax contributions. Now I am preparing taxes for 2025 and I need to report this. I got 1099-R where I reported distribution, now I am asked if any contributions in 2024 of prior was after tax. They were, my February 2025 contribution to Traditional IRA for 2024 was after tax. So I am asked about information from Form 5498 which will be available in May 2025. I found total fair value of my Traditional IRA account on 31 December 2025, but what shall I answer to Turbotax questions "Ourstanding rollovers" and "Outstanding recharacterizations"?? Please help