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Traditonal IRA distribution question in the 1099-R section of wages & income
To begin with I converted money from Traditional IRA to ROTH IRA account with the same brokerage firm. I imported the 1099-R information into TurboTax from the brokerage firm. A couple questions after that TurboTax asks "What did you do with the money from the brokerage firm" and I given to options:
1) I moved the money to another retirement account (or returned it to the same retirement account).
2) I did something else with it (cashed out, etc.).
Since I converted it from IRA to Roth does it count as moving it another retirement account or cashing out?
March 26, 2023
5:27 PM