WebThat is really all there is to reporting the backdoor Roth IRA. All of the above is assuming you did both the contribution and the conversion on or before Dec 31, 2024. If you made a 2024 contribution but didn't do the conversion until 2024, then you still report the contribution on your 2024 tax return, but you don't report the conversion until next year … WebMy software (Drake) does not give option to report return of over payment Tax Professional: Yaw, CPA , Certified Public Accountant (CPA) replied 3 days ago If your tax software does not provide an option to report a return of overpayment of contributions to your Health Savings Account (HSA), you may need to report the correction manually on your tax return.
8606 - Lines 4 or 8 are Blank - Drake Software
Web1 feb. 2024 · You can file an amended return to report that. Your 8606 for 2024 would add to that basis the 2024 contribution of $6,000. You then converted $5,500 in 2024 and … WebOpen Screen IRA in the Retirement folder and enter the appropriate code in the Conversion from traditional IRAs to Roth IRAs field. Enter 2 if the taxpayer converted all of their … chistes developers 4
About Us - IRA Financial Group
WebHow to do a Backdoor Roth IRA using E*TRADE Jimmy Sambuo 175 subscribers Subscribe 149 6.1K views 2 years ago Let's talk about retirement planning! In this video, I'll talk about an advanced... WebUse the ROTH screen to make entries for Form 8606, parts II and III as needed to report Roth IRA conversions, distributions, and contributions. Entries on this screen may be … Web16 jan. 2024 · If you did a Backdoor Roth, which involves making a non-deductible contribution to a Traditional IRA and then converting from the Traditional IRA to a Roth IRA, you need to report both the contribution and the conversion in the tax software. For more information on Backdoor Roth, see Backdoor Roth: A Complete How-To. Table of … chistes curas