What you are talking about doing is a ROTH IRA conversion. When you do that, the funds withdrawn from the 401-K fund are taxable. For the year you do the conversion you will receive a form 1099-R which you enter in the Wages and Income section of TurboTax, then Retirement Plans and Social Security, then IRA, 401(k), Pension Plan Withdrawals (1099-R). There will be codes in box 7 and questions about what you did with the money to insure that the distribution is treated properly in TurboTax.
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