Non Deductible Trad-IRA Contribution then converted to Roth IRA

[keaang]

Hi,

For 2023 Tax Year I made a $6,500 Non Deductible Traditional IRA Contribution between Jan 1-April 15 calendar year 2024.  I then converted the entire $6,500 +minimal interest using backdoor ROTH IRA conversion a few weeks later.  In Nov 2024, I made another $7,000 Non Deductible Traditional IRA Contribution for Tax Year 2024.  I then converted the entire $7,000 + minimal interest using backdoor ROTH IRA conversion a few weeks later towards end of Nov 2024.  As of Dec 2024 there is nothing left in my Traditional IRA Account.

Now that I'm doing my taxes for 2024, I want to make sure if I answered the following three questions correctly.

This should be yes, since I did track my nondeductible contributions to my IRA

I entered $6,500 here since I made contribution of $6,500 for tax year 2023 between Jan 1-Apr 15, 2024.  Or should I enter in the basis as $13,500 ($6,500 for Tax year 2023 + $7,000 for tax year 2024)?

I'm assuming I would enter $0 here because I have already converted all the money in the traditional IRA to my Roth IRA using the backdoor ROTH conversion before Dec 2024 and there's nothing left in my Traditional IRA account.

Thank you for assistance.

[MindyB]

Yes, you are correct.  $6,500 is your non-deductible basis at 12/31/2023 and zero is the basis for 12/31/2024.  

Don't forget to enter the 2024 $7,000 non-deductible IRA contribution in the deduction and credits section.  This will ensure the $13,500 rollover (except additional interest) will be tax-free.

To review the full steps to report a backdoor Roth in TurboTax Online, see: How do I enter a backdoor Roth IRA conversion?:

[keaang]

thank you MindyB!