Conversion of Traditional IRA to ROTH

I converted my entire Traditional IRA to a Roth in December 2020. I know that this is a taxable event but after entering the 1099-R information, and answering the questions. the amount is showing as nontaxable. I can not figure out what question has been answered incorrectly to cause it to be nontaxable. Your help is appreciated.

posted

Sounds like you might have reported it as a rollover and not a conversion.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Delete the 1099-R and re-enter. When asked of you moved the money to another account say yes and be sure to enter the amount converted in the Roth conversion box.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**