Hello,
I contributed 6,500 to Traditional IRA on December 28th, 2023 and then did the Roth Conversion of that amount i.e. 6,500 on January 8th, 2024. In the past years, I did the conversion the same year but this year I did the conversion next year.
1099R form for 2023 reports Gross Distribution of 0.07 instead of 6,500 which it used to be when I did the Traditional to Roth Conversion in the same year. I thought as long as I do the conversion before March 31, it is still considered to be in the same financial year.
Is my 1099R reporting the correct Gross Distribution amount or should I update to 6,500 when filing taxes for year 2023? Or will I file this Gross Distribution when filing taxes for 2024?
My broker is Fidelity if that matters.
Thank you!