@dmertz - Here is what all I have done in regard to 1099-R(s) and incorporated the changes now as you suggested. I have reported 3 different 1099-R info in Turbo Tax.
- 1099-R to show the rollover from 401-K to traditional IRA.
- 1099-R to show the rollover from 401-K to ROTH IRA
Turbo Tax only presents the following question in this order, and these are my responses now.
- Is this 1099-R reporting a rollover of funds from a 401(k), 403(b), or government 457(b) plan to a designated Roth 401(k) or Roth 403(b) plan? Answered: Yes
- Did you make any after-tax contributions to your 401(K) or 403(b) plan? Answered: Yes
- Was this money received as a public safety officer? Answered: No
No further questions are presented on this IRA
3. 1099-R to show the withdrawal of fund from ROTH IRA
- Did I inherit the IRA from Fidelity? Answered: No
- Was any part of the money you withdrew from this Roth IRA used to buy your first home? Answered: No
- Was this a qualified disaster distribution? Answered: No
- Did I owe any Roth IRAs since before 2015? Answered: No
- Was Roth IRA open on December 31, 2019? Answered: No (It was opened earlier in 2019)
- Roth IRA Contributions prior to 2019. Answered: Left blank
- Tell us the year that I converted a traditional IRA to a Roth IRA: Marked 2018 box (This to me is lying to TurboTax but not on tax return as I never converted traditional IRA to Roth IRA. Rather rollover of fund from 401-K to Roth IRA happened in 2019)
- 2018 Nontaxable Conversions: Entered the Form 1099-R box 5 amount (Amount transferred to ROTH IRA)
Updated Forms generated by Turbo Tax
- The IRA information worksheet generated has now only line 7 (Basis in Roth IRA conversions) populated with contributions made to Roth IRA
- On the Form 8606 – Part III this is what I see now
- Line 19 (total nonqualified distributions from Roth IRAs in 2019: $$ withdrawn from Roth IRA
- Line 20 (Qualified first-time homebuyer expenses): Empty
- Line 21 (Subtract line 20 from line 19): $$ withdrawn from Roth IRA
- Line 22 (Enter your basis in Roth IRA): Empty
- Line 23 (Subtract line 22 from line 21): $$ withdrawn from Roth IRA
- Line 24 (Enter your basis in conversions from qualified retirement plans to a Roth IRA): $$ Box 5 Amount (amount rolled over to Roth IRA)
Please acknowledge if this looks correct now. I sincerely appreciate your patience in helping me out. I mistook you thinking that you might be from Intuit.
