BillM223
Expert Alumni

Get your taxes done using TurboTax

Based on what I heard you say, this is what I did in my test return.

 

Enter your 1099-R. Work through the subsequent screens until you see "About This Retirement Account" (you will see this only if you were 70 1/2 last year).

 

Answer "Yes, some or all of this withdrawal was an RMD".

 

This will expose a new line -  answer whether part or all the the withdrawal was an RMD.

 

If you answered "part", then a new line will ask "how much applies to the RMD".

 

 

Then the next screen is titled: "Transfer to Charity?" Here you indicate NONE.

 

The next screen asks "What did you do with the money from this distribution?" Answer that "you moved the money to another retirement account".

 

This will expose three new lines. Indicate that you did a combination of rolling over, converting, or cashing out.

 

This will expose several more lines. Enter the amount that you going to the Roth IRA. This will be treated as taxable income. If there is money from the distribution left over after the RMD (which is taxable) and the Roth IRA conversion, then this money will be listed as taxable income, too.

 

Did you do these steps? The result of the foregoing is that you reported doing three things with the distribution: an RMD, a Roth IRA conversion, and some extra for general use, and all three are taxable.

 

Tell us what you did that was different.

 

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