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Get your taxes done using TurboTax
Thank you! It’s the first year I’ve had a Roth account and the prompt in the Deductions section for retirement accounts says to put a check mark for any “new” or existing Roth accounts and then prompts for the contributions; there is no option to specify a tax free rollover as the baseline. I did that and got the penalty assessment. I am now just going to remove the check mark for the new Roth account (treating it in TT like it does not exist) and remove the penalty. And assume that whenever I begin future withdrawals from that account TT and the IRS will somehow detect that my initial rollover baseline amount was a legitimate, tax free rollover. I like TT and know this is probably an infrequent issue but the program does not currently handle this too well.