Here’s a clearer version of your message:
Hi,
I’m using the 2024 desktop version of TurboTax for Mac.
As mentioned in the subject, I received only one 1099-R for a solo 401(k) that includes both a Roth conversion and a full IRA conversion (closed account).
- Box 1 shows a gross amount of $200k.
- Box 2a shows $9.7k as taxable income.
- The "Total Distribution" box is checked.
- Box 7 has Code G.
- The other boxes are blank.
Here’s the breakdown:
- The $9.7k was converted to a Roth IRA mid-year.
- The $200k is the amount that was rolled over into a regular IRA.
No matter how I answer the interview questions, the $9.7k is not being included in my taxable income, which seems incorrect.
TurboTax’s help section mentioned I should be asked about a "Partial Conversion to Roth," but I never got that question.
I found Section 7 on the form (not the interview), and while it’s a bit confusing, I figured that if I answer Question B6 with $9.7k and check B7, it would include the $9.7k in my taxable income correctly.
B8 seems to show the difference between the $200k and the $9.7k, but the language is unclear.
Have I done this correctly?
- Should I be concerned about B8?
- Do I need to split the 1099-R myself, even though Fidelity only sent me one form?
Thanks!
