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Get your taxes done using TurboTax
Yes, you will Tax Expert DaveF1006 steps to enter a rollover for the pension that was rolled over to the traditional IRA (nontaxable) and the conversion from traditional IRA to Roth IRA (taxable).
Please review the steps below.
To enter the pension rollover to a traditional IRA:
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R”
- Click "Continue" and enter the information from your 1099-R from the pension
- On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
- On the "Did you move the money to a Roth IRA?" screen answer "No"
- Continue through the questions.
To enter the conversion to Roth IRA:
- On the "Review your 1099-R info" screen click on "Add another 1099-R"
- Enter the Form 1099-R for the Roth conversion
- Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA”
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March 4, 2023
10:18 AM