Hal_Al
Level 15

Get your taxes done using TurboTax

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...

 

Q1. I entered my daughter's 2023 529 to Roth rollover in the IRA are of TT in the 2023 return and that seems to be incorrect.   I should correct her 2023 return by deducting the 2023 529 to Roth rollover.

A1. No There's nothing to correct, unless you claimed the Saver's Credit.  Otherwise, because a Roth contribution is non deductible, when you enter it in TT, nothing actually goes on your  tax return. 

 

Q2. Only Roth contributions from after tax earnings should show in the TT IRA section.

A2.  I don't know.  I would think so.  A good question. I'll pass it along.