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February 17, 2021
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Where in Turbo Tax do I mention a Roth IRA conversion (money taken from traditional IRA to be converted to Roth IRA)?

  • February 17, 2021
  • 1 reply
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Nevermind, I found it.
Best answer by DaveF1006

This is how you would report this.

  1. Inside TurboTax, search for 1099-r and select the Jump to link in the search results.
  2. Answer Yes on the Your 1099-R screen and continue.
  3. If you land on the Your 1099-R Entries screen, select Add Another 1099-R.
  4. Select how you want to enter your 1099-R (import or type it in yourself) and follow the instructions.
  5. Answer No to Did You Inherit the IRA from (payer)?
  6. Then answer I moved the money to another retirement account (or returned it to the same retirement account) on the What Did You Do With The Money From (payer)?
  7. Next, choose I converted all of this money to a Roth IRA account.
  8. Continue answering questions until you come to the Your 1099-R Entries screen.

 

1 reply

DaveF1006
DaveF1006Answer
February 17, 2021

This is how you would report this.

  1. Inside TurboTax, search for 1099-r and select the Jump to link in the search results.
  2. Answer Yes on the Your 1099-R screen and continue.
  3. If you land on the Your 1099-R Entries screen, select Add Another 1099-R.
  4. Select how you want to enter your 1099-R (import or type it in yourself) and follow the instructions.
  5. Answer No to Did You Inherit the IRA from (payer)?
  6. Then answer I moved the money to another retirement account (or returned it to the same retirement account) on the What Did You Do With The Money From (payer)?
  7. Next, choose I converted all of this money to a Roth IRA account.
  8. Continue answering questions until you come to the Your 1099-R Entries screen.

 

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