You'll need to sign in or create an account to connect with an expert.
A Roth conversion performed in 2025 will be reportable on your 2025 tax return that you prepare next year and your 12/31/2025 balance in traditional IRAs will need to be used on the 2025 Form 8606.
Thanks but the amount in my traditional IRA’s will be lower by the amount I move to Roth this month. Is that right?
Correct. Form 8606 sums the year-end balance with the distributions/conversions (other than QCDs, HFDs and distributions those rolled over to a traditional IRA) when figuring the taxable amount of distributions/conversions.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
mlondergan
New Member
RLH7715
Level 1
thiruguru
New Member
CaRoFi
Level 1
Hokiemommo
Returning Member