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SEP IRA to Roth IRA
I have put money into a SEP IRA since 2013. The first several years were not deductible but then I formed an LLC and everything became pre tax. In 2020, I transferred all the money into a Roth IRA. Is this a "rollover" or a "conversion". I got a 1099-R but it is just marked "x" for what tax I owe and in box 7 it says "2". How do I enter the different years and amounts from the IRA that were pre and post tax and how do I figure out what I owe? I understand I have to put this on a 4606 or something like that...?
‎February 17, 2021
9:54 AM