leslieannebarton
Returning Member

IRA conversion to Roth IRA

In 2019 I did a conversion of 30000 from a traditional IRA to a new Roth IRA (created for this transfer). I followed the panels as stated in the turbo tax instructions and I still ended up with the 6% penalty which has now carried over to 2020.  I know I have to consider the 30000 as income in 2019 but I can't get the program to remove the penalty.  The money was moved to the Roth IRA in 1 day.  I have been trying to do a 2019 amended return so I can remove the penalty and then not be taxed or penalized in 2020.  I can't seem to make it work.  The 1099-R show it as a 7 distribution of IRA.  Can I get a better explanation of what needs to be done in the panels.  I did select that it was being moved to a Roth IRA but it still shows up.  I have the desktop version of Turbotax