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Get your taxes done using TurboTax
All the events took place in 2021. If you used direct or trustee-to-trustee rollover (The money did not go through you) then the Forms 1099-R will be coded correctly in box 7. If you did not take an early withdrawal, very likely there is no early withdrawal penalty. When you moved money from Traditional IRA to Roth IRA, it is considered a conversion and you will pay tax on this amount.
Based on your end result, and if none of the money was retained by you (not rolled into the Roth IRA) some of the money might be taxed which would be earnings. However if all of the money when from one Roth account to another, then none of it should be taxed. The code will identify that and TurboTax will rely on the code.
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‎January 26, 2022
11:52 AM