My question to this is do I report the 529 rollover to the Roth IRA as a Roth Contribution? And if so how do I tell TurboTax that I am not confined to the MAGI income Limitations. As I am being hit with a penalty for an over contribution. Do I not report the contribution at all due to the type of rollover? It's not a traditional rollover and not exactly a direct contribution and the IRS says I am not subject to the MAGI income limitations either. But TT is going to hit me with penalties for reporting the contribution to my Roth.
