dmertz
Level 15

Get your taxes done using TurboTax

It seems that you incorrectly entered the code 2 or code 7 Form 1099-R with the IRA/SEP/SIMPLE box marked.  Make sure that when entering this Form 1099-R that you indicate that you moved the money to another retirement account, that you did a combination of rolling over, converting and cashing out, then indicate that amount converted to Roth.

 

(If the Form 1099-R provided by the payer does not have the IRA/SEP/SIMPLE box marked, the transaction is not reportable on Form 8606.  Such a transaction would instead be properly described as a taxable rollover from the traditional account in an employer's qualified retirement plan, not a Roth conversion.)

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