- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Q. My question to this is do I report the 529 rollover to the Roth IRA as a Roth Contribution?
A. No, not in your case. You do not enter the 1099-Q, since it is a qualified rollover. Do not enter the contribution at IRA contributions.
Q. And if so how do I tell TurboTax that I am not confined to the MAGI income Limitations.
A. You can't . TT can' t handle that, so just don't enter the contribution. Entering it in TT does not report it to the IRS on your tax return. The IRS does that with form 5498. You'll have to manually track your Roth contributions, unless TT addresses this next year.
March 17, 2025
5:29 AM