☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 5, 2019 10:29:28 PM

Does a Traditional to Roth IRA conversion count as a Roth contribution?

In early 2015 I moved funds from a traditional IRA at Fidelity to a traditional IRA at Vanguard.  I then moved the funds to a Roth IRA at Vanguard.  I have entered the information from the 1099-R that I received in the Wages and Income section.  Do I also need to enter the money as a Roth contribution in Deductions and Credits?

0 1 2883
1 Best answer
New Member
Jun 5, 2019 10:29:28 PM

No, a conversion is not the same as a contribution.  Do not enter the funds twice.  As long as you entered the 1099-R, you're covered.  If you weren't eligible to make a direct contribution for the year to a Roth IRA, entering the funds again in the Deductions and Credits section will cause a penalty to be calculated.  

1 Replies
New Member
Jun 5, 2019 10:29:28 PM

No, a conversion is not the same as a contribution.  Do not enter the funds twice.  As long as you entered the 1099-R, you're covered.  If you weren't eligible to make a direct contribution for the year to a Roth IRA, entering the funds again in the Deductions and Credits section will cause a penalty to be calculated.