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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.
- Click "Federal Taxes" on the top
- Click "I'll choose what to work on"
- Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)"
- Answer "Yes" to the question "Did You Have Any of These Types of Income?"
- Click "I'll Type it Myself"
- Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
- Click "Continue" and enter the information from your 1099-R
- Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
- Then choose “I did a combination of rolling over, converting or cashing out the money.”
- Enter the amount converted to Roth IRA
- On the "Your 1099-R Entries" screen click "continue"
- Answer "yes" to "Any nondeductible Contribution to your IRA?"
- Answer the questions about the basis
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April 15, 2020
1:34 PM