Question
New York State 529 to Roth recapture
As of 2024, a 529 to Roth conversion of $7,000 or less is tax free at the federal level. However, New York State is requiring that this transaction be recaptured on the NYS tax return and is taxed.
The 529 plan administrator is sending out a 1099-Q for these situations. It doesn't appear that Turbo Tax Deluxe provides any guidance or help for this situation.
The NY state tax return has been activated in Turbo. How should this be handled in Turbo Tax?
