DanaB27
Expert Alumni

Retirement tax questions

Generally, conversions are taxable unless you had a basis in your traditional IRA. If you did not have a basis and the conversion will be 100% taxable then both boxes should have the full amount entered.

 

I'm not sure why they made the entry screen confusing but wanted to confirm that you enter the full amount in both boxes when you have a fully taxable conversion to get the correct result on Form 40.

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