dmertz
Level 15

Retirement tax questions

"State and federal taxes was paid during the conversion. The entire amount was converted."

 

That's contradictory unless you substituted other funds to indirectly complete the conversion of the portion withheld for taxes.  If you did not do so, the amount converted is the gross amount minus the amount withheld for taxes.

 

When entering the Form 1099-R into the CD/download version of TurboTax, indicate that you moved the funds to another retirement account, that you did a combination of rolling over, converting and cashing out, then indicate the amount converted.  TurboTax will treat the portion not converted as the amount cashed out.