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Retirement tax questions
Yes, line B6 should be $40,500. You will have to enter the amount the amount that was converted in the follow-up questions:
- Login to your TurboTax Account
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R”
- Click "Continue" and enter the information from your 1099-R
- Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
- Then choose “I did a combination of rolling over, converting, or cashing out money.” and enter the amount next to "Amount converted to a Roth IRA account" (this will be $40,500 unless you added the amount that was withheld for taxes from other funds).
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March 6, 2021
9:27 AM
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