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H
huckles
February 24, 2025
Question

Is a tradional IRA conversion to a Roth IRA reportable on 2024 tax return?

  • February 24, 2025
  • 1 reply
  • 0 views
Is a traditional IRA conversion to a Roth IRA reportable on 2024 tax return?

    1 reply

    DoninGA
    DoninGA
    Employee
    February 24, 2025

    Yes,  You should have received a Form 1099-R when you distributed the funds from the Traditional IRA.

      H
      hucklesAuthor
      February 24, 2025

      Thank you DoninGA.  

      My 1099R reports amount converted from traditional IRA to Roth IRA as a withdrawal and that is fine.  Other than paying tax on the withdrawal is there anything else I need to do?

       

      Thank you

      fanfare
      fanfare
      Employee
      February 24, 2025

      If you have basis in IRA, you must attach a completed Form 8606.

      @huckles 

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