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Get your taxes done using TurboTax
It’s two separate transactions. You rolled over the 401(k) into a private (pre-tax or traditional) IRA, and then in a separate step, you rolled the traditional IRA over into a Roth IRA, which is also called a conversion. I assume you paid income tax on the conversion amount? The amount you paid tax on is the basis amount added to the Roth.
March 18, 2021
6:40 AM