Thank you I reviewed your token. You did not enter the conversions correctly. Right now they show as distributions and not as conversions. Since they show a distribution, they were included in your MAGI. TurboTax is working correctly.
Please review the steps to enter the conversion in TurboTax:
- Click "Federal Taxes" on the top and select "Wages & Income"
- Click "I'll choose what to work on"
- Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)"
- Answer "Yes" to the question "Did You Have Any of These Types of Income?"
- Click "I'll Type it Myself"
- Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
- Click "Continue" and enter the information from your 1099-R
- Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
- Then choose “I did a combination of rolling over, converting, or cashing out money.” and enter the amount next to "Amount converted to a Roth IRA account"
To confirm, did you already request the withdrawal of excess contribution plus earnings? If yes, then the earnings will have to be entered on your 2023 tax return.
@katmclernon
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
