Roth IRA contribution and rollover from Roth 403b to Roth IRA

Forum|Forum|2 years ago
February 20, 2024
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I did a rollover of $16,000 from Roth 403b to Roth IRA. I also contributed $7,500 to Roth IRA. How do I enter those two amounts in Turbo Tax? Thanks.

Best answer by DaveF1006

Yes. You do not need to do anything additional regarding the rollover because the transaction is recognized as a rollover when you report your 1099R. The Distribution Codes deem this as a rollover. The rollover will be reflected in Box 5A in your Form 1040.

To report your Roth IRA contribution, go to:

Federal>deductions and credits
Retirement and investments>Traditional and Roth IRA Contributions

DaveF1006

To clarify, was the rollover reported to you on a 1099R with distribution Code H in Box 7? Also was your 403B funded with after tax dollars or was there pre-taxed dollars included in the amount?

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anonymous777Author

Thanks for your questions, DaveF1006.

The rollover reported on 1099R with distribution codes B and G in Box 7.

Yes, my 403b was funded AFTER tax dollars. The original amount was $19,000. After tax, it was $16,000.
I opened the 403b account and put $16,000 in there. Then, I rolled over $16,000 to Roth IRA within one month.

Please let me know if you have any other questions or if my answers are not clear. Thanks.