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March 18, 2024
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End of year value win contributing to 2023 ira in 2024

  • March 18, 2024
  • 1 reply
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At the end of 2023, my IRA balance was $2 because I transferred everything to a Roth IRA. Now, while contributing to my 2023 IRA in TurboTax, I'm asked for the IRA value on 12/31/2023.

So, if I contribute $1000 today, should I enter $1002?

    Best answer by ThomasM125

    It would be the balance at end of year plus any contributions made in 2024 to be applied to 2023.

     

    [Edited 3/18/24 at 5:53 PM PST] @Ig-sdlo 

    1 reply

    March 19, 2024

    It would be the balance at end of year plus any contributions made in 2024 to be applied to 2023.

     

    [Edited 3/18/24 at 5:53 PM PST] @Ig-sdlo 

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    Ig-sdloAuthor
    March 19, 2024

    @ThomasM125  are you sure? It explicitly asks to include that.

     

    March 19, 2024

    You are correct, please see my edited post!

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