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Retirement tax questions
Yes this should be a taxable event. Let's try these steps to see if you reported correctly.
- You have entered your 1099R. make sure there is a taxable amount listed in Box 2A
- Make sure the IRA box is checked between Box 7 and 8 in your form
- Answer the question on the next screen and continue
- the 4th question should ask Let us know about the distribution. Select Traditional IRA
- Then move through the next question about inheriting and then the next screen will ask, what you did with the money.
- Indicate you rolled it over into another retirement account
- Then another drop down will appear. Here you will say you converted to a Roth
- Finish up the questions. That distribution should now as taxable on 1040-4B
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‎April 2, 2020
12:26 PM