I have received 1099-R and when I import the same.. it is been increased my taxes.
Here is my situation:
in year, 2018 i have invested an additional amount(tax paid) in traditional IRA which I haven't received any tax benefit hence i moved that amount to ROTH IRA in 2019. This year i have received 1099-R, mentioned as taxable income (distribution). Please suggest how to report this with no additional tax payment this year?
Thanks
Soma
If the distribution is from a Traditional IRA, we'll ask you some questions regarding your non-deductible contributions and then calculate the taxable amount based on your information.
