Turbo Tax version for ira conversion to roth

Forum|Forum|1 year ago
December 31, 2024
3 replies
32 views

Which version of Turbo Tax do I need for filing a conversion from standard IRA to Roth IRA? I have been buying Premier because I had some complex investments, but I no longer have them, this conversion is about the only thing I'm doing. Thank you.

dmertz

Level 15

All versions of TurboTax support reporting Roth conversions.

psfrumkinAuthor

Level 2

Thanks. Understood, all the forms are there, but is there guidance/wizard support? For instance there is a lot of help with investments, so asking if that kind of help for the ira conversion exists in all versions, deluxe, or premier.

dmertz

Level 15

They all ask the same questions about the nature of the distribution that you enter on TurboTax's 1099-R form. You'll indicate that you moved the funds to another retirement account, that you did a combination of rolling over, converting and cashing out (even though you might have converted it all), then enter the amount converted.