Roth Conversion Confusion

Forum|Forum|2 years ago
February 18, 2024
1 reply
1 view

This year we did a Roth conversion for my wife. When entering the information I received a couple of questions that puzzled me.

Firstly, when entering the information it continually references MY name as the IRA holder and I cannot find how to enter the conversion info for my wife's IRA. Is this because I am the primary tax filer?

Secondly, the software asks for the total value of all my traditional IRA's, excluding the Roth.

- Why is this relevant when other IRA's are not being touched?

- Is this just for the accounts in the name of the person doing the conversion, or husband and wife combined?

Thanks for any help you can offer.

VolvoGirl

Level 15

Delete that 1099R and start over. At the beginning you pick who it is for. The total will be just for the person, not combined.

Cup of TeaAuthor

Level 2

Thanks VolvoGirl, I see now where I went wrong.

Do you know why we would be asked to report the value of traditional IRA's now when we never needed to before? Also, why only for my wife and not for me?

I appreciate the help.