- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
I was able to figure this out but posting it in case others have similar issue.
You need to answer the following question correctly when filling out 1099-R
What did you do with the money from XXX?
* I moved the money to another retirement account (or returned to the same account).
Choose which of the following applies?
* I did a combination of rollover, converting or cashing out the money [THIS IS NEW IN 2020, UNTIL LAST YEAR TURBOTAX HAD AN OPTION FOR SELECTIONG "I converted all of this money to ROTH IRA".
Then select
* Amount rolled over to another retirement account - 0
* Amount converted to a ROTH IRA account - 6005 (in my case).
Hope this helps!
‎April 20, 2021
8:58 PM