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TurboTax Deluxe 2024 Interview Mode Does Not Compute Tax for Traditional to Roth IRA Conversion
When I enter the info. from my 1099-R form during Interview mode I'm supposed to enter all the info. indicated by the form. This includes whether the IRA/SEP/SIMPLE box is checked on the form. On my form that box is checked, yet this is the behavior I see.
- If I leave the box unchecked in TurboTax, a finite tax amount is computed, as I expect.
- If I check the box, then TurboTax indicates there is no tax to be charged corresponding to the conversion.
The second behavior is clearly incorrect. There has to be a finite tax amount associated with the conversion.
I see that a similar inquiry was previously filed for TurboTax here.
But the question asked was never answered within the thread. Seems like there is a bug in TurboTax dating back a few years and never resolved.
What should I do? The only thing I can think of is to leave the IRA/SEP/SIMPLE box unchecked. But that's not what I'm supposed to do given that the box is checked in the 1099-R form.
By the way, I'm wondering if this bug is triggered by the fact that I have multiple 1099-R forms. Within TurboTax, the form where I'm having the problem is the 2nd one in the list.