Hello! Not a tax pro here, but I do my sister's taxes. She received two 1099-Rs for her conversion from a traditional IRA to a ROTH that her financial advisor recommended that she do. She got one 1099 with no taxes withheld. And a 2nd 1099 that is wholly taxes in that the amount withheld for state and federal equal the total on line 1 Gross Distribution. When I enter it seems to me that she is owing WAY more than she should so I feel like I'm doing it wrong. I entered the two 1099s on TT under 1099-R entries.
Under what did you do with this money, I clicked "moved the money". And "did a combo of rolling over..." then I entered the amount converted to the ROTH account. I did that for both 1099-Rs. I entered them the both the same way.
Am I handling this correctly??? She's never ever owed taxes in her life and she is almost to retirement age. So I think I may be entering wrong. Thoughts??? Thank you in advance!
