ReneV4
Employee Tax Expert

Retirement tax questions

The number you see on line 5b represents the total amount of the distribution that the IRS considers taxable.

 

To ensure this isn't a logic bug, check your "Additional Distribution Information" worksheet in the Forms mode (if using Desktop) or the "Tax Summary" in TurboTax Online.

 

You can view Tax Summary by clicking on Tax Tools on left panel, then Tools, then View Tax Summary

If Box 2a + (Box 1 - Box 5) are being added together, this is a mistake

However, if Line 5b exactly matches (Box 1 - Box 5), this is the correct IRS treatment for a Roth conversion of after-tax funds

 

Other items to check:

 

  • Ensure you have marked that this is a direct rollover (Code G in Box 7)
  • When asked by TurboTax, make sure you select, I moved it to another retirement account and specify it was a Roth IRA
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