There is no such thing as a prior-year conversion. The conversion must be processed by the end of the year (12/31). For example, if you plan to process a Roth solo 401k conversion for 2023, whether pretax or voluntary after-tax funds, the funds must be moved to the Roth solo 401k by 12/31/2023. What is more, just like Roth IRA conversions, solo 401k Roth conversions are irreversible. Therefore, if you convert pre tax solo 401k funds to the Roth solo 401k, make sure that you will have enough funds to pay the taxes due when you file your personal tax return as the taxes due on the pretax conversion cannot be paid with solo 401k funds.
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