@aridenour99 wrote:
The allocation of my IRA 1099-R Distribution was mixed; part in actual withdrawal (cash), part transferred into a Roth IRA, part Rolled back into the IRA under the 2020 no-RMD wavier.
Assuming you mean by "no-RMD waiver" you qualify for the COVID related roll back.
Unfortunately this is a situation (two destinations - rollover and Roth conversion) that TurboTax does not support on a single 1099-R.
You must split the 1099-R into two using the exact same data except box 1 and 2a.
Enter the amount of the Roth conversion in box 1 and 2a in one 1099-R and answer the RMD question that NONE of it was a RMD, then say you moved the money to another retirement account and did a "combination of things". Enter the amount if the Roth conversion in the bottom box.
Enter the amount of the rollover and cash in box 1 and 2a in the other 1099-R and answer the RMD question that NONE or to was a RMD, then say you moved the money to another retirement account and did a "combination of things". Enter the amount rolled over in the top box.
The resulting 1040 form line 4a should now have the total of the original 1099-R box 1 and line 4b should have that taxable amount of the Roth conversion and the amount taken in cash. With and explanation statement next to it.
NOTE: it you had any tax withheld in box 4 then include that on the second 1099-R and it will also be taxable income on the 1040 line 4b.
**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.**
