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Tax year 2025 individual e-filing is now open. For resources to help start your tax season check out Hot Topics here.
Tax year 2025 individual e-filing is now open. For resources to help start your tax season check out Hot Topics here.
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- Re: Backdoor Roth conversion
Backdoor Roth conversion
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S13
Level 2
Tuesday
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Client contributed $6500 in Traditional IRA in 2023 (non deductible IRA). Received 5498 for this contribution. Immediately converted to ROTH IRA in 2024 by using backdoor ROTH conversion strategy. There is no Other IRA account and no balance. In 2024 client contributed $7000 (non deductible IRA) and Converted to ROTH IRA by using backdoor Roth Conversion in 2025. How to report this on form 8606 in 2023 and 2024 , 2025 and calculate taxes if any
. Contributions made with after tax money (post tax)
Thank you
Sam
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