David66 thank you for the response
I would like to clarify your response to what is on the Turbotax screen
from screen 1
————————Enter payer information input Screen——
info entered
———————————next screen———————————
Is this 1099R for contribution that your employer made to a Roth Simple or Roth set account? = No
————————————Inherit Screen—————————
Did I inherit this? = no
——————————What did you do Screen—————
What did you do with the money from this 1099R ?
☑️ David moved the money to another retirement account (or returned it to the same retirement account)
Or
🔲 David Did something else with it (cashed out etc.)
————with the 1st box checked ——this screen opens————
Choose, which of the following applies :
🔲David rolled over all his money to another traditional Ira or other retirement account (or return it to the same account )
☑️ David did a combination of rolling over converting or cashing out the money
————with the 2nd box checked ——this screen opens————
Tell us how much of the 20,000 did David move to Ira 401(k) or other retirement account?
🔲 Amount rolled over to another or back to the same retirement account
☑️ amount converted to the Roth Ira account $20K
————————————Next Screen—————————
Move money to HSA = No
————————————Next Screen—————————
Qualified Disaster = No
————————————Next Screen—————————
Any non-deductible contributions to David’s IRA? =no
I just transferred the 401(k) to an Ira early this year and retired three years prior, so no contributions
————————————Next Screen—————————
Tell us the value of your traditional Ira
This information is sent by mail on form 5498 (which I did not receive this information is sent by mail on form 5498 (which I did not receive or who generates the form)
Information entered from my VanGuard year end Ira statement
No outstanding rollovers
no outstanding re-characterizations no outstanding rollovers no outstanding re-characterizations
————————————Next Screen—————————
No missed RMD‘s
————————————End—————————
David66,
Looking at line 4b on my 1040 the value is $43713
But I changed the $20K —> to Roth to $1.00 and the line in 4b stayed at $4713
I thought that would reduce $19999.00 less
What is missing?
