turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Backdoor conversion to Roth

I contributed $1,500 to a Traditional IRA with a $0 balance on Dec 23, 2023, and transferred the money to a Roth IRA on December 31. However, the transaction processing took a few days and the money was converted on January 5, 2024. I received the 2023 Form 5498 IRA Contribution, showing a $1,500 IRA contribution. I expect to receive the Form 1099-R in 2024. Should I report this conversion in 2024? What should I enter for 2023?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Backdoor conversion to Roth

Report the conversion in 2024 and the contribution in 2023. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies