Hi,
I have the situation where:
Only one 1099R, but two separate 5498's were submitted to the IRS.
I rolled over an after tax amount to Roth IRA. This amount includes a smaller pretax amount which is a capital gain from the after tax amount.
The pretax amount is split in 2 portions:
- A portion "X" is rolled over to the Roth IRA with the after tax amount. The amount "X" is in box 2a of form 1099R.
- A portion "Y" is rolled over to the Rollover IRA which is in the a form 5498.
I have 2 5498 forms:
1. Form 5498 with IRA type "Roth IRA" with the both after tax amount and the pretax portion "X", that are rolled over to a Roth IRA.
2. Form 5498 with IRA type "IRA" with the pretax amount "Y" rolled over to a Rollover IRA.
On the 1099R form, I have values in box 1, 2a ("X"), 5 and box 7 with G.
- What is a correct way to enter this scenario in Turbo tax ? I have only 1 1099R which I entered its values in 1 1099R entry.
- How can I specify the pretax amount "Y" that is rollover to a Rollover IRA ?
Thanks.
