Backdoor Roth IRA

Forum|Forum|1 year ago
February 4, 2025
1 reply
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I am working on my taxes for 2024. I made a Traditional IRA contribution in 2025 for tax year 2024. I then did a R/O to my Roth IRA (backdoor). When adding this into TurboTax, this question comes up:

Did you change your mind? Tell us if you switched, or "recharacterized" any of the $ Traditional IRA contribution for 2024 over to a Roth IRA contribution. Note: "Switched" or "recharacterized" does not mean converted or rolled over.

What is the best way to answer this for a backdoor Roth IRA? Thanks.

AnnetteB6

Level 15

For the situation you described, the best answer to the question about 'did you change your mind' is no. You did not recharacterize the contribution.

Since you contributed to your Traditional IRA during the calendar year of 2025 for the tax year of 2024, you will only report the non-deductible contribution to the Traditional IRA on your 2024 tax return.

When you converted (not rolled over) the Traditional IRA to your Roth IRA, that conversion took place in 2025. That means that you will receive a 2025 Form 1099-R reporting that distribution from the Traditional IRA. The 2025 Form 1099-R will be entered and reported on your 2025 tax return. That is where the Roth IRA conversion will take place.

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A_Ball205Author

Level 2

Thank you, this is helpful. I did the same thing last year. I made a backdoor Roth contribution for 2023 in calendar year 2024. I did receive my 1099-R and added in TurboTax. This question did not come up when adding in my 1099-R. Should it have come up?

For my taxes in 2024, I should have 2 tax Form 8606, correct?

AnnetteB6

Level 15

No, that question should not have come up after entering the Form 1099-R. Instead, you should have seen a question about what you did with the distribution. The answer to that question would have been that you converted it to a Roth IRA.

You will only have one Form 8606, unless you also have a spouse who has their own Form 8606. There will be two sections of the form filled out -- one for the non-deductible contribution and one for the Traditional to Roth conversion.

@A_Ball205

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