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M
mlraleigh38
February 25, 2020
Question

Tax Year Prior to 2020: My Roth conversion shows up as income for the IRA distribution, but does not reduce my taxes. How do I fix it to recognize the reduction in taxable income?

  • February 25, 2020
  • 1 reply
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1 reply

V
VictorW9
February 25, 2020

If you convert your IRA to Roth, then it will be treated as income and you will pay taxes on the amount and possibly a penalty for early distribution. The code in box 7 indicates how the distribution is treated. 

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