I am converting my IRA to ROTH over 5 year period and I converted 23000 dollars and the tax was 2300. Turbo Tax is now asking me these questions, and here are my answers. Is this correct?
Did you convert the gross amount of $23,000.00 (Box 1) to a Roth IRA?
Because $2,300.00 was withheld in taxes, you should only select Yes if you actually converted $23,000.00 using $2,300.00 of your own money.
Yes, all of this money was converted to a Roth IRA
No, I converted less than $23,000.00
--Actual amount converted 20700--My answer
I didn’t convert any of the money
