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New Member
posted Oct 24, 2021 9:40:52 AM

Amend return have a question on rollover converisons

trying to amend conversion and rollover is appearing on amended return.

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1 Replies
Level 15
Oct 24, 2021 10:15:50 AM

IRS says:

"Although a conversion of a traditional IRA is considered a rollover for Roth IRA purposes, it isn't an exception to the rule that distributions from a traditional IRA are taxable in the year you receive them."

 

HENCE,

if your 1040 shows" Rollover", then you probably reported your conversion incorrectly, since that keyword implies your action was not taxable.