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VAer
Level 4

How does form 8606 look like if traditional IRA contribution and Roth Conversion are for different calendar year

https://drive.google.com/file/d/1LMRao6KsPRDU4iVekWivlh2xYG4UTeRF/view?usp=drive_link 

 

Above link: 2024 form 8606 with some filled blocks, not sure how to fill the rest of form.

 

It is hypothetical question, since the tax season has passed. Below data are just example.

 

January 2024: I made $3000 non-deductible traditional IRA for calendar year 2023 (I did not make enough traditional IRA contribution for year 2023 during calendar year 2023). I immediately converted the $3000 to Roth IRA in January 2024.

In 2024: I made $7000 non-deductible traditional IRA for calendar year 2024. I immediately converted the $7000 to Roth IRA in January 2024.

So the total Roth Conversion amount in 2024 is $10k

 

How can I complete above form 8606?

 

Thanks.

 

f8606_page_1.jpgf8606_page_2.jpg

 

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4 Replies

How does form 8606 look like if traditional IRA contribution and Roth Conversion are for different calendar year

be better if you post a picture rather than whatever that link is

VAer
Level 4

How does form 8606 look like if traditional IRA contribution and Roth Conversion are for different calendar year

@baldietax Just updated post by adding two screenshots.

How does form 8606 look like if traditional IRA contribution and Roth Conversion are for different calendar year

ok line 13 should be 10000 and you will finish up with 0 on line 14.  Then lines 16-18 repeat some of the info from lines above.

 

Assume you have a typo in your description and mean 7000 not 3000 here "I made $7000 non-deductible traditional IRA for calendar year 2024. I immediately converted the $3000 to Roth IRA in January 2024."

VAer
Level 4

How does form 8606 look like if traditional IRA contribution and Roth Conversion are for different calendar year

@baldietax Sorry, it was typo, I fixed it. Just copied and pasted, forget to update the number.

 

I did make calculation wrong for line 13, it is 10000

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