Retirement tax questions

If you received it as two 1099-Rs then please enter it as two 1099-Rs.

For the $240 you will select "did something else with it". 

You do not enter the conversion as a Roth contributions under deductions and credits. If you made the traditional IRA contribution in 2020 then please follow the steps below:

1. Open your return
2. Click on "Search" on the top right and type “IRA contributions”
3. Click on “Jump to IRA contributions"
4. Select “traditional IRA”
5. Answer “No” to “Is This a Repayment of a Retirement Distribution?”
6. Enter the amount you contributed
7. Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
8. Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had a nondeductible contributions before this tax year.
9. If you had a basis in the Traditional IRA before then enter the amount.
10. On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount.

If you had a prior year basis in the traditional IRA then you will enter this in steps 10 and 11.

1. Open your return 
2. Click on "Search" on the top right and type “1099-R”
3. Click on “Jump to 1099-R”
4. Click "Continue" and enter the information from your 1099-R (for the $5,670)
5. Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
6. 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"
7. On the "Your 1099-R Entries" click "Add another 1099-R" (for the $240)
8. Answer questions until you get to “What Did You Do With The Money” and choose “I did something else”
9. On the "Your 1099-R Entries" screen click "continue" after you entered all 1099-R
10. Answer "yes" to "Any nondeductible Contribution to your IRA?"
11. Answer the questions about the basis and value

[Edited 3/29/2021 | 6:27 am PST