Roth conversion/traditional IRA contribution offset

Yes, they can "cancel each other out" on your tax return, but only if your traditional IRA contribution is fully tax-deductible. From a pure income tax perspective, adding $8,000 to your taxable income via a Roth conversion while simultaneously subtracting $8,000 via a deductible traditional IRA contribution results in a net-zero change to your Adjusted Gross Income (AGI).

If you request it, your bank can set up an IRA CD, which is a Certificate of Deposit held within a Traditional Individual Retirement Account. However, a transfer of the IRA funds to a standard CD would not be considered a rollover.

If the Traditional IRA money was not rolled into an IRA CD or a Traditional IRA within 60 days, it is considered a distribution and would be subject to tax. If the IRA went into the bank (but was not rolled into an IRA) in 2024, you should have received a Form 1099-R for the 2024 tax year.

Confirm the account type with your bank. If the bank statement says "retirement plan account," it may be an IRA CD or another retirement account, but only the bank can tell you for sure.

If the funds stayed in a retirement plan account until they were withdrawn in 2025, you would generally expect the 1099-R to reflect the year the funds were distributed.

To get your 2019 return, you can request a tax transcript or a copy of your return from the IRS. Here is information on how to make that request.

On Roth versus Traditional IRAs: you would not fund a Traditional IRA with Roth IRA money. A Traditional IRA is generally pre-tax (tax is paid at distribution), while a Roth IRA is after-tax (tax is paid going in, so qualified distributions are generally tax free).

To contribute to an IRA, you generally need taxable earned income such as wages or self-employment income, but there is no age limit. For current contribution limits and eligibility, see this IRS page.

IRA contributions for a given tax year have a cutoff date (generally April 15 of the following year), so a past year's contribution typically can't be redone after that date.

If you need to change a prior-year return, you can file Form Form 1040-X. The time limit to claim a refund is generally three years from the date you filed the original return or two years from the date you paid the tax, whichever is later.

Because your situation involves 1099-R timing and whether past filings should be amended, consider having a tax professional review your specific records before making changes. 

TurboTax Desktop has an option to purchase live expert help. See this article for instructions on how to activate the live tax advice.

New York itemized deductions for contributions to charities are computed the same way as charitable contributions on the Federal tax return, so the address of the organization should not matter as long as the donation is to an IRS-qualified 501(c)(3) public charity or other approved organization.