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Retirement tax questions
The money that you took from the traditional IRA and put into a Roth IRA would be a conversion, not a contribution. When you're going through the 1099-R screens for the distribution from the traditional IRA, you will need to show that you converted part of the proceeds to a Roth IRA. The entire distribution will be taxable, assuming that you fully deducted your contributions to the traditional IRA when you made them.
March 9, 2025
4:23 AM