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burgproof
New Member

Do I alter my 1099 R or start a new one to show I converted my IRA to a ROTH IRA. The instructions do not match my forms

I need to show my IRA withdrawal as being converted in to a new ROTH IRA How do I do this?
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2 Replies

Do I alter my 1099 R or start a new one to show I converted my IRA to a ROTH IRA. The instructions do not match my forms

Do you have a 1099R for it?  Do you have more than one 1099R form?  Enter each one separately.  You shouldn't need to alter any forms.   What code is in box 7 on your 1099R?

 

After you enter the 1099R it should ask, What did you do with the Money? Say you moved the money to another retirement account.

Then check the box.... You did a combination of rolling over, converting or cashing out the money.

Then another box opens up...Amount converted to a Roth account.

 

 

MinhT1
Employee Tax Expert

Do I alter my 1099 R or start a new one to show I converted my IRA to a ROTH IRA. The instructions do not match my forms

You can report the conversion of your IRA distribution to a Roth IRA by following these steps:

  1. In TurboTax Online, open your tax return
  2. Click on Federal in the left-hand column, then on Wages & Income
  3. Navigate to the list of income categories
  4. Locate the section Retirement Plans and Social Security and click on the arrow on the right
  5. Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
  6. Enter your form 1099-R and follow the interview
  7. When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I converted some or all of it to a Roth IRA and Click Continue

 

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