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johnjkolb
Returning Member

Desktop version of TT isnt calculating the Roth conversion amount and is showing the entire 1099R withdrawal amount as taxable. How do I correct this?

The taxable amount of the 1099R withdrawal should be zero as I converted the entire amount to a ROTH via a backdoor conversion
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3 Replies
SV4701
New Member

Desktop version of TT isnt calculating the Roth conversion amount and is showing the entire 1099R withdrawal amount as taxable. How do I correct this?

Having same issue. What is the code in Box 7 in your 1099-R ?

johnjkolb
Returning Member

Desktop version of TT isnt calculating the Roth conversion amount and is showing the entire 1099R withdrawal amount as taxable. How do I correct this?

My box 7 has a 7 in the field on my 1099R.    I solved the issue by manually going into the "Forms" option and opening the IRA Contribution and Info Worksheets Forms (on the left) and manually entering the Roth conversion amount.  In my case, it was $8,000.00 for the Roth conversion.  Pay close attention to the IRA Info Worksheet line # 36 where the Roth conversion amount must be entered for myself and my spouse.  All good now, thanks.

KeshaH
Employee Tax Expert

Desktop version of TT isnt calculating the Roth conversion amount and is showing the entire 1099R withdrawal amount as taxable. How do I correct this?

To report a Backdoor Roth in TurboTax, you have to first report your nondeductible IRA contribution and then report the 1099-R.

 

Click here for the steps on reporting a Backdoor Roth in TurboTax.

 

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