Hi,
In 2024, I rolled over my 401k from a previous employer to a pre-tax IRA. There were no tax implications, so I forgot to report it in my 2024 tax return. I then realized that I am now unable to do a back-door Roth IRA (since I already have Roth IRA funds), and I filed an amendment to include the 1099-R in my 2024 tax return.
My question is, when can I rollover my pre-tax IRA to my current employer’s 401k? Should I wait until the amendment is processed? And am I still technically able to do my back-door IRA this year without any penalties as long as I roll it over?
When can I rollover IRA to employer’s 401k after amendment
byu/senpai-d intax
Posted by senpai-d
2 Comments
You can do the reverse rollover whenever is convenient for you. The 2024 amendment is minor since it doesn’t affect your taxable income. You don’t have to wait for the amendment to process. As long as you do the reverse rollover before 12/31 you’ll be fine to do the backdoor conversion this year. End of year balances are all that matter.
The roll-over process is not dependent on your return. The amendment is not creating a non-taxable basis and you aren’t filing a 8606 per your post. I assume the whole point of the rollover to the 401k is so you can do a back door Roth IRA without a taxable conversion.