Hello, I'm working on my tax filing and just entered my 1099-R and I'm stuck on the following question: "Is this 1099-R a rollover from a 401(k), 403(b), or governmental 457(b) plan to a designated Roth 401(k), 403(b), or 457(b) plan?" This rollover was an in-service rollover within the same plan from an "After Tax"…
Hi, I filed a backdoor roth last year and the process doesn't seem to be working for me this year. In both my wife and my 8606 forms, the nontaxable portion doesn't appear to work in line 13. I filled out the forms following the instructions posted to the site. I input that I contributed $7,000 in 2025 and had $0 in the…
For 2025, I over contributed $7k to a Roth IRA, withdrew my contributions and earnings, put the contributions and earnings in a traditional IRA, rolled over the earnings to my 401k, then did a backdoor Roth with the $7k, plus converted a few dollars of interest earned during the process. I have three 1099-Rs: one for my…
Hi, January 2025 deposited $8000 (50 and older) to 2025 Roth IRA. Due to increase in wages my magi is too high and I will contact vanguard this week and have $8000 plus earnings re-characterized as a new IRA. My concern, what steps must be taken to fill out taxes properly. It should be a simple process but the more I read…
In 2024, i had one after tax contribution which didnt have automatic in plan conversion. So i transferred that directly to my Roth IRA After i enabled in plan converstion, i rolled them over to Roth IRA a few times. Now i have received 1099-R G and 1099-R H forms When i fill it in freetax usa it asks me if the 1099-R G…
I made $7000 non-deductible contributions to my traditional IRA account for year 2024 and $6500 for year 2023. The 2023 contribution was done in 2023 to Roth IRA but I recharacterized it in 2024. The immediately I converted all of it (both 2024 and recharacterized 2023 contribution) to Roth IRA. Because the conversion were…
Hi all - thanks in advance for the help. I messed up my Roth this year and am not sure how to report it on my return for 2024. Situation: Feb 18 2025: Deposited $3.5K into my Roth Feb 20 2025: Realized I was above MAGI this year and removed the excess Feb 21 2025: Deposited $7K as non-deductible traditional IRA…
In 2023, I made a non-tax deductible contribution to my traditional IRA. My broker said that I could recharacterize this contribution in which the $6500 would be returned and I would need to pay taxes on any gains, which I'm doing this year (it was comingled accidentally in pre-tax funds). I'm now going through the process…
I did a backdoor Roth in 2023, but didn't make enough income to totally phase out of the deductible amounts. So when I put my Trad IRA contribution —> Roth IRA conversion information, FreeTaxUSA is "forcing" me to take the partial Trad IRA deduction, and wants to tax me on my Roth IRA conversion. I double checked that the…
In 2024, I contributed $7K to a traditional IRA and bought an mutual fund. The mutual fund went down in value to $6,929. I then converted the full amount in my traditional IRA, $6,929, to my roth IRA, prior to Dec 31 2024.. My traditional IRA had $0 thereafter. My question is — FreeTaxUSA is reporting basis on the 8606. Is…
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