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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

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

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

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

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

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

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

@huckles 

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