Thank you for your responses. To provide with additional information on the last question.
after entering Form 1099-R
Option 1) I rolled over all this money to another traditional IRA or another retirement account (or returned to the same account)
Option 2) I did a combination of rolling over, conversion or cashing out the money.
The reason I was hesitant on option 1 is that the total was $75,000 but only $60,000 were added to my Roth IRA and the $15,000 were kept by the broker for taxes.
In the 1099-R form, Box 1 and 2 indicate $75,000,
Box 2a Taxable amount not determined is marked with X
Box 4 indicates $15,000
However, when I selected option 2. Turbo tax is not done, it is asking to tell them how much of the $75,000 moved to an IRA, 401K or other retirement account.
Option 1 _____ Enter amount rolled over to another ( or back to the same) retirement account.
Option 2 _____ Enter amount converted to a Roth IRA Account.
Question: Would I just enter in option 2 $60,000???
Then I hope lastly, Turbo tax is asking if "Any nondeductible contributions to my IRA?
Option 1 > Yes, I made and tracked nondeductible contributions to my IRA
Option 2> No, I did not make and track nondeductible contributions to my IRA
Would it be option 2... as I am retired and I no longer make any contributions except for gains based on how the money is invested by the broker within the IRA and Roth IRA?
Thanks,
