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Retirement tax questions
I took out the full RMD amount in January. In August I returned a portion to the traditional IRA. In December i took part of that returned amount from the traditional IRA and rolled it into a Roth IRA. As a result of all this I received a 1099-R that includes the total RMD amount that I originally took plus the amount that I rolled into the Roth IRA. I also received 2 Form 5498's. One shows the amount that I returned to the traditional IRA on Line 2. The other 5498 shows the amount that I transferred to the Roth IRA on Line 3. How do I enter all this in TurboTax so that Lines 4a and 4b on Form 1040 are correct? Thank you.
PS - Where will I find your response to my question?
ā€ˇFebruary 18, 2021
12:20 PM