IRA to Roth Conversion with Non-deductible contributions of one account verses other IRAs with no Non-deductible contributions

[eagerr]

I have one IRA account with a portion of it containing Non-deductible contributions that I converted 50% of its assets to a Roth account.  I also own IRAs/rollovers with other investment firms.  Do I report the value of the IRA account I am converting on line 6, or do I report the value of all of my IRA/rollover 401K accounts?

[AnnetteB6]

You will need to report the value of all of your IRA accounts.

The distribution from the Traditional IRA which was converted to a Roth IRA will be subject to the pro rata rule.  This means that a portion of the distribution will be considered to be from pre-tax funds and a portion will be considered to be from after-tax funds.  Therefore, the conversion to the Roth IRA is not a tax-free event.  

[eagerr]

Thank you for your quick reply 🙂

So since I am filing a joint return, then do I need to dig up the current value as of 12/31/2024 of all of my IRA accounts as well as my spouses and report that on line 6?

[fanfare]

You tally up the value of the IRAs of which you are the owner,. That leaves out your spouse's IRA and any inherited IRAs 

@eagerr 

[eagerr]

Thanks - That clears up all of my questions regarding this issue.

Cheers