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March 22, 2025
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Roth Conversion Showing as Income

  • March 22, 2025
  • 1 reply
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In 2024 I had a ROTH conversion created.  There was no rollover from other IRA's.  This ROTH conversion was not distributed.  Why is it showing up in my income section?  I find the questions to answer concerning IRA's confusing, so I may have selected the incorrect box.

 

Thank you

    Best answer by DanaB27

    Generally, conversions are taxable unless you had a basis in the traditional IRA. Are you trying to enter a backdoor Roth conversion? If yes, then please review the instruction: How do I enter a backdoor Roth IRA conversion?

     

     

    Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount).

     

    To preview Form 1040:

    1. Click on "Tax Tools" in the left menu
    2. Click "Tools"
    3. Click "View Tax Summary" in the Tool Center window
    4. Click on "Preview my 1040" on the left

     

    1 reply

    DanaB27Answer
    March 22, 2025

    Generally, conversions are taxable unless you had a basis in the traditional IRA. Are you trying to enter a backdoor Roth conversion? If yes, then please review the instruction: How do I enter a backdoor Roth IRA conversion?

     

     

    Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount).

     

    To preview Form 1040:

    1. Click on "Tax Tools" in the left menu
    2. Click "Tools"
    3. Click "View Tax Summary" in the Tool Center window
    4. Click on "Preview my 1040" on the left

     

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    March 23, 2025

    Thank you.  I read further and I have a Roth conversion from a traditional IRA.  I am understanding now.