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Retirement tax questions
Please follow these steps to split you Form 1099-R:
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R”
- Enter the first 1099-R for the rollover into the traditional IRA:
- Box 1 Enter amount send to traditional IRA
- Box 5 blank
- On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
- On the "Did you move the money to a Roth IRA?" screen answer "No"
- Enter a second 1099-R for the conversion to Roth IRA:
- Box 1 Enter amount send to Roth IRA
- Box 5 enter amount listed on Form 1099-R
- On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
- On the "Did you move the money to a Roth IRA?" screen answer "Yes"
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April 7, 2024
2:01 PM