DanaB27
Expert Alumni

Retirement tax questions

Please make sure that you did not enter anything under Roth IRA under Deduction and Credits. You will only enter your 1099-R in the income section and answer the follow-up questions. TurboTax will ask about your basis in the follow-up questions.

 

  1. Click "Federal Taxes" on the top
  2. Click "I'll choose what to work on"
  3. Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)
  4. Answer "Yes" to the question "Did You Have Any of These Types of Income?"
  5. Click "I'll Type it Myself"
  6. Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
  7. Click "Continue" and enter the information from your 1099-R
  8. Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account
  9. Then choose “I did a combination of rolling over, converting or cashing out the money.”
  10. Enter the amount converted to Roth IRA
  11. On the "Your 1099-R Entries" screen click "continue"
  12. Answer "yes" to "Any nondeductible Contribution to your IRA?"
  13. Answer the questions about the basis

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"