Hi Josh,
Thanks for the reply. to answer your questions
1) One 1099-R
2) Box 7 code is G
3) Yes, I did a Roth conversion ... more in details below
4) Exactly like the form
Details: I did two transactions during the year.
1) Transfer of after tax contributions ($20,419.13) to my Roth IRA plus a transfer of the earnings on my after tax contributions ($1,144.87) to my traditional IRA. Total = $21,564Both of these would be non-taxable.
2) a Roth conversion for $60,000 that will be taxable
Box 1 = $81,564, Box 2a = $60,000, Box 5 = $20419.13
TT 1099-R summary line 26 = $60,000 (correct), line 31a = $61145, 32a = $121, 145, 32d = $121145 which transfers to 1040 line 4d. Line 31a seems to be the source of the error in that it is double counting the $60,000 Roth conversion and including the $1,144.87 as taxable even though it went into a traditional IRA.
