401 K to IRA to Roth IRA conversion.

You  should receive two separate Form 1099-R that will need to be reported on your 2023 tax return.  One will report the rollover of the 401 k to the Traditional IRA.  The other will report the Traditional IRA distribution that was converted to a Roth IRA.  This second Form 1099-R is the one that will affect your tax return since it generated a taxable event.

Enter the Form 1099-R reporting the rollover to the Traditional IRA first.  Be careful as you answer the follow-up questions after you enter the Form 1099-R details.  You will see two questions that ask about putting the distribution into a Roth 401k or a Roth IRA.  Both of these should be answered as 'no' because this distribution went to a Traditional IRA.

After that information has been entered, then work on the second Form 1099-R.  Because this is reporting a distribution from an IRA instead of a 401 k, the follow-up questions will be different.  Just pay close attention to what is being asked and everything should be fine.

Use these steps to go directly to the Form 1099-R section of your return when you are ready to get started:

• On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner) 
• This opens a box where you can type in “1099-R” and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
• The search results will give you an option to “Jump to 1099-R”
• Click on the blue “Jump to 1099-R” link