Error in N11 treatment of ROTH conversion

Forum|Forum|2 years ago
April 17, 2024
1 reply
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The amount rolled over to a ROTH IRA is exempt from Hawaii income tax. However, turbo tax does not deduct it from Hawaii AGI.

Please correct this error.

maglib

Employee

@ab28 As this is a public forum we cannot see your return. You would need to be specific on the type of conversion.

Here is articles of 2024 being implemented https://www.hawaiiwealthmgmt.com/Coming-in-2024-New-529-Plan-to-Roth-IRA-Rollover-Option.c10117.htm

Or are you discussing that Hawaii allows conversions regardless of income? https://files.hawaii.gov/tax/news/announce/ann10-01.pdf

If you converted something that was not subject to income taxes originally to a Roth, you would still have tax liability though.

Please give more details. Thank you.

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