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Re: I converted $10,000 of traditional IRA to a Roth IRA. Charles Schwab withheld $1176 in fed. taxes and $588 in state taxes. Is the conversion amount $11,764 or $10,000?
macuser_22
Level 15
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Retirement tax questions
Tax withheld is part of the distribution that will be the 1099-R box 1 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.**
February 20, 2021
7:14 AM
