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Get your taxes done using TurboTax
A Roth conversion is reported by entering a Form 1099-R for the traditional IRA distribution, indicating that you moved the money to another retirement account, that you did a combination of rolling over, converting and cashing out, the indicating the amount that was deposited into the Roth IRA. it is not entered anywhere under Deductions and Credits.
A Form 1099-R for a distribution from a traditional IRA will have code 7 if you are over age 59½, the IRA/SEP/SIMPLE box marked, the gross distribution amount in boxes 1 and 2a, and box 2b Taxable amount not determined marked.
December 30, 2022
6:03 AM
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