DanaB27
Expert Alumni

Retirement tax questions

It seems as if you moved funds from a traditional IRA to Roth IRA since you received Form 1099-R with the IRA/SEP/SIMPLE box checked. This is a conversion and is taxable unless you had nondeductible contributions in your traditional IRA (basis).

 

To enter a conversion:

  1. Click on "Search" on the top right and type “1099-R”
  2. Click on “Jump to 1099-R”
  3. Click "Continue" and enter the information from your 1099-R
  4. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA

 

 

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