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Level 2
posted Feb 23, 2025 5:22:38 PM

Is a tradional IRA conversion to a Roth IRA reportable on 2024 tax return?

Is a traditional IRA conversion to a Roth IRA reportable on 2024 tax return?

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3 Replies
Level 15
Feb 23, 2025 5:26:35 PM

Yes,  You should have received a Form 1099-R when you distributed the funds from the Traditional IRA.

Level 2
Feb 23, 2025 5:34:46 PM

Thank you DoninGA.  

My 1099R reports amount converted from traditional IRA to Roth IRA as a withdrawal and that is fine.  Other than paying tax on the withdrawal is there anything else I need to do?

 

Thank you

Level 15
Feb 23, 2025 6:02:21 PM

If you have basis in IRA, you must attach a completed Form 8606.

@huckles