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Get your taxes done using TurboTax
" If you decide not to enter the 1099-Q, you lose the option of showing the Roth contribution when calculating the Savers Credit."
That assumes that TT will somehow automatically enter the Roth contribution from the 1099-Q area. I don't think that's a sure thing. You still have the option of entering the Roth contribution in the IRA contributions area.
The IRS web site says "Rollover contributions do not qualify for the (Saver's) credit." Although they don't specifically address the 529 to Roth "rollover". https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-cred...
‎February 20, 2025
10:30 AM