sk750
Returning Member

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!