Traditional IRA to Roth Conversion

Forum|Forum|2 years ago
February 12, 2024
1 reply
0 views

I made a Traditional IRA conversion to a Roth this past year. I was taxed on the rollover amount which I was expecting.

I do not see anywhere that would indicate that the rollover amount was applied to my Roth account. Is that something needs to be captured somewhere?

Best answer by ThomasM125

When you indicate that you moved your IRA distribution to another retirement account and did a combination of rolling over, converting and cashing out money, and then enter the amount converted to a ROTH IRA, TurboTax will make the appropriate entry on page two of Form 8606 to report the rollover.

[Edited 3/6/24 at 11:23 AM PST] @turk1818

ThomasM125Answer

[Edited 3/6/24 at 11:23 AM PST] @turk1818

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

koulekovag

Thank you so much for answering. I think i fixed it also by stating that my contribution to TIRA was $7500 ( i had $7510 before), and also my adding the $10 as capital gain. Thank you!