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Retirement tax questions
@R-CBriarwood wrote:
So the option to code it as a Traditional IRA transfer into a Roth IRA is gone?
Why was this option removed?
There is no such code and never has been. A Traditional IRA to Roth is the same as any other IRA distribution, you must report that it was a taxable distribution if converted to a Roth on the 1040 form line 4 and 8606 form that TurboTax will add for you when you enter the Roth conversion in the interview.
**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.**
‎February 5, 2021
8:00 AM