Question

Traditional 457(b) to Roth 457(b) conversion

Forum|Forum|3 years ago
February 25, 2023
1 reply
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How to I reflect some traditional 457(b) funds were converted to a Roth 457(b)? TurboTax asks:

"Is this 1099-R reporting a rollover of funds from a 401(k), 403(b), or governmental 457(b) plan to a designated Roth 401(k) or Roth 403(b)?"

However, it never asks if it was rolled over into a Roth 457(b). Thanks.

D

DanaB27

Yes, you would answer "yes" to "Is this 1099-R reporting a rollover of funds from a 401(k), 403(b), or governmental 457(b) plan to a designated Roth 401(k) or Roth 403(b)?" for your situation.

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R

Roth457bAuthor

Thanks. That certainly makes sense, but do you know why the question didn’t specify Roth 457(b)? Was it an oversight?

N

NY taxpayer

I had this exact same issue and spent over an hour today on the phone with a Turbo Tax customer assistance rep who in turn conferenced in a "resolution" specialist who is turn was on the phone with someone else in some other office. The call ended up being cut off before anything was resolved. I was trying to persuade the reps that one of the questions should expressly address the option of a conversion of a pre-tax 457 to a post-tax 457.

Meanwhile, on my own, I decided that absent some change to the software in the next 2 weeks, I'll resolve the issue the way that the first person who responded to your question proposed.