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Ask the Experts about Tax Law Changes & Forms (2024) >> Event happening TODAY!
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alex6080
New Member

Filing 2024 Tax Return

I recently realized that I forgot to add 2023 non deductible IRA contributions to my tax return. When I got my 1099-R for 2024, it is showing 13.5K in distributions (backdoor roth) and of course on this years return I included the 7K as non deducitble IRA contributions due to income levels. My 1040 is showing taxable amount of $6,500 because of the non deductible contributions being left off of last years tax return and the basis is not matching up. I have already filed an amended return for 2023. Do I need to file an extension and wait for 2023 amended return to update and be included on current year return. I am not trying to pay an additional 24% in taxes on that $6,500 in the current year that is money that has already been taxed.

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