Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
A
apkw
March 14, 2025
Question

Form 8606

  • March 14, 2025
  • 1 reply
  • 0 views

After filing my 2024 Form 1040, I have decided to fund a back door Roth IRA (my AGI is above the threshold for a deductible IRA contribution).  I plan to pay $7000 as a nondeductible IRA contribution for 2024.  Today is 3/14/25.  In a month I will transfer the $7000 to a Roth IRA.

Questions:

1.  How do I fill out boxes 1-14 on the 2024 Form 8606?

2.  Will the conversion to the Roth be reported on the 2024 Form 8606 or next year in 2025 (Form 8606 boxes 16 & 17)?

Thanks

    1 reply

    D
    DanaB27
    March 15, 2025

    1. The nondeductible contribution will be entered on line 1 of the 2024 Form 8606. This will be carried over to line 3 and then 14. Please see Instructions for Form 8606 for additional information.

     

    2. The conversion happened in 2025. Therefore, you will report the conversion next year on your 2025 tax return when you get the 2025 Form 1099-R. Please see How do I enter a backdoor Roth IRA conversion? for additional information.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    A
    apkwAuthor
    March 16, 2025

    Do I enter $7000 in box 4 since I am making the contribution after 1/1/25 and before 4/15/25?

    -apkw

    D
    DanaB27
    March 17, 2025

    If you did not convert/distributed any funds from your traditional IRA in 2024 then you do not need to enter anything on line 4.

     

     

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsCookie settingsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification