Retirement tax questions

Yes you must split it into two 1099-Rs.    TurboTax cannot handle two different destinations on one 1099-R.

 

Enter them both exactally the same as the original except for the box 1, and 2a amounts.

For the rollover enter the amount in box 1 & 2a, then on the what you did with the money say you rolled all over,

For the conversion again enter the amounts in box 1 & 2a and say that you converted it all to a Roth IRA.

 

The 1040 line 4 should have the total for both box 1 amounts on line 1a and the amount of the conversion (taxable amount) on line 4b.     That should match the original 1099-R.

 

If you had any tax withheld in box 4 on the original 1099-R, box 4, include that in box 4 on the separate 1099-R for the conversion amount.

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post