dmertz
Level 15

Get your taxes done using TurboTax

There is no bug.  You have not entered the 2022 Roth conversion correctly if the $30,000 Roth conversion performed in 2022 is not present on lines 59 and 60 of 2022 TurboTax's IRA Information Worksheet.  If not entered correctly, your 2022 Roth conversion will also be absent from Part II of your 2022 Form 8606 where it is required to reported.

 

If you did a $30,000 Roth conversion in 2022 as you indicated in your original post, you will have a 2022 Form 1099-R, with code 1, 2 or 7 that reports the distribution from the traditional IRA.  When you enter this Form 1099-R, indicate that you moved the money to another retirement account, and indicate the amount converted to Roth (in the CD/download version of TurboTax you must first indicate that you did a combination of rolling over, converting and cashing out, then you can enter the amount converted to Roth), TurboTax will add to your 2022 Roth conversion basis the amount that you indicated that you converted to Roth.

 

The reason that you can't enter the 2022 conversion basis directly on the IRA Information Worksheet in 2022 TurboTax is because the amount converted in 2022 must be entered via the Form 1099-R as I indicated above.

 

I have such a Roth conversion reported on my own 2022 tax return.  The amount is properly included on lines 59 and 60 of my IRA Information Worksheet (part of my 2022 Roth conversion was nontaxable) and appears in Part II of my 2022 Form 8606.  If I enter a code-T 2022 Form 1099-R and indicate that I have not had a Roth IRA for 5 years, TurboTax properly prepares Form 8606 Part III and includes my 2022 conversion basis on line 24.

 

(If this was instead rollover to a Roth IRA from a traditional account in a qualified retirement plan like a 401(k), TurboTax will still properly add to the 2022 Roth IRA conversion basis when you indicate that it was rolled over to a Roth IRA.)