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Stymied
February 23, 2025
Question

Traditional IRA to Roth Conversion in Turbotax Premier

  • February 23, 2025
  • 1 reply
  • 0 views

Received two 1099Rs from for traditional IRA.  First was for RMD, second for partial conversion from Traditional to Roth at another institution. Completed interview for RMD first.  In completing interview for conversion 1099R, Turbotax didn't recognize RMD had been made for this account, even though I answered that no RMDs were outstanding and warned I'd owe penalty.  What do I need to enter to get program to recognize I've made RMD, so I can move forward.

    1 reply

    T
    ThomasM125
    February 26, 2025

    A required minimum distribution (RMD) would not apply to a Roth IRA conversion, so it is likely the issue is with the other two IRA distributions you entered. I suggest you revisit those entries to insure that you answered the RMD questions accurately. 

     

    Assuming you made your RMD's for the year, for the first question, enter the amount of your RMD that applies to that distribution:

     

    For the next question indicate that the entire distribution was applied to your RMD in the current year:

     

    As long as the distribution was equal to or more than the RMD, you should not get a penalty for being deficient.

     

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