Backdoor Roth - two years at once

Hi there,

I plan to open a regular IRA and a roth IRA for the backdoor transfer. Moreover, I plan to do one $13.5k contribution for both 2023 and 2024 and one transfer. While I understand that I only report the $6.5k for my 2023 filing, I wonder whether TurboTax Premier has the built-in module for the backdoor activity (for both federal and state), or I need to make manual inputs under the "forms" tab.

Thank you for advising.

234

Level 15

Jan 30, 2024 6:54:37 PM

Since you are doing the conversion now, you don't report that until 2025 doing your 2024 tax return.

Use 2023 Form 8606 to setup the first of your non-deductible contributions for 2023 alone.

There's nothing special about it.

@catdelta

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Backdoor Roth - two years at once