turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Do direct contributions to a Roth IRA count separately than doing a conversion to a Roth?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Do direct contributions to a Roth IRA count separately than doing a conversion to a Roth?

They are separate.  A Roth contribution is not deductible.  A conversion to a Roth is taxable.

DanaB27
Expert Alumni

Do direct contributions to a Roth IRA count separately than doing a conversion to a Roth?

Yes, they are different.

 

Contributions to a Roth IRA are entered as contributions (they are nondeductible):

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “IRA contributions”
  3. Click on “Jump to IRA contributions"
  4. Select “Roth IRA

 

 

A Roth conversion is entered under the retirement section and is taxable (unless you had nondeductible contributions in the traditional IRA):

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “1099-R”
  3. Click on “Jump to 1099-R”
  4. Click "Continue" and enter the information from your 1099-R
  5. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question