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Retirement tax questions
Then the two portions of the distribution from the 401(k) are already on separate Forms 1099-R. Enter the code-1 Form 1099-R, indicate that it was moved to another retirement account, that you did a combination of rolling over, converting and cashing out, then enter $5,000 as the amount converted to Roth. This Form 1099-R will have $0 in box 2a and $5,000 in box 5 to indicate that the distribution is nontaxable.
For the code-G form 1099-R, indicate that you did not roll it over to any kind of Roth account so that TurboTax will treat it as a rollover to the traditional IRA. (The Roth conversion is a separate transaction reported via the code-2 Form 1099-R from the traditional IRA.)
‎January 30, 2023
8:45 AM