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Level 3
posted Jul 11, 2020 7:39:01 PM

Do I need Form 8606 or another form for 401K to Roth Conversion?

Do I need Form 8606 or any other form for 401K (tax deferred) to Roth Conversion?   Turbo Tax accounted for the conversion as taxable income on form 1040 and inserted the word "Rollover" but it appears there were no supporting forms generated for this.

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1 Replies
Level 15
Jul 12, 2020 4:51:38 AM

No.  A rollover from a 401(k) to a Roth IRA does not go on Form 8606.

 

(The tax code and the IRS define a Roth Conversion as coming from a traditional IRA and is not the technically correct term to use for a rollover from a traditional account in a 401(k) to a Roth IRA even though it is common to see this term used for both outside of the tax code and the IRS.  The correct term for this transaction is "taxable Roth rollover.")