Form 8606

[thtrac]

I'm using backdoor IRA for 2025 and transfer money from traditional to roth account on 4/11. Just spoke with Fidelity agent and the fund wont be available till 4/14 and the tax form might not be generated on time to file the tax.

Does anyone know what is the best way to do this? Should i wait and file the extension to get all the tax form? Thanks!

[MaryK4]

Because your Roth conversion is occurring in calendar year 2026, you do not need to wait for a 1099-R or file an extension for your 2025 return.

To ensure your 2025 contribution is correctly marked as non-deductible and generates Form 8606, follow these steps in TurboTax:

1. Enter the Contribution:
   • Go to Federal > Deductions & Credits.
   • Find Retirement and Investments and select Traditional and Roth IRA Contributions.
   • Check the box for Traditional IRA.
2. Confirm the Amount:
   • Answer Yes that you made a contribution.
   • Enter the exact amount you contributed (e.g., $7,000).
3. Indicate it's Non-Deductible:
   • TurboTax will ask if you "tracked your basis" or if you want to make this a non-deductible contribution. Select Yes.
   • On the screen titled "Tell Us How Much You Contributed," confirm the amount is listed under the "Traditional IRA" column.
4. Verify Form 8606:
   • Before you file, use the Tax Tools > Tools > View Tax Summary > Preview my 1040 method mentioned earlier.
   • Look for Form 8606. Your contribution should appear on Line 1, and your total basis (which will carry over to next year's conversion) should be on Line 14.

Important: Since your conversion happens on 4/14/2026, do not enter any conversion information in the 2025 return. You only report the $7,000 contribution.

[thtrac]

Thanks for your help! In regard to the form, do i click yes to "Did you recharacterize any of the traditional IRA contributions for 2025 over to a Roth IRA contribution?"

[dmertz]

"In regard to the form, do i click yes to "Did you recharacterize any of the traditional IRA contributions for 2025 over to a Roth IRA contribution?""

No.  You did a Roth conversion.  You did not recharacterize to a Roth IRA.