I have a 1099-R for a traditional IRA that I converted to a Roth IRA:
1. Gross distribution: $1,208.92
2a. Taxable amount:(blank)
2b. Taxable amount not determined: x, Total Distribution: x (both boxes checked)
4. Federal income Tax Withheld: 120.89
7. 2, IRA/SEP/SIMPLE: x (checked)
I "Moved the money to another retirement account" and "Did a combination of rolling over, converting, or cashing out the money." When I get to the part where it asks "Tell us how much of the $1,208.92 you moved to an IRA, 401(k) or other retirement account," do I put only the $1,088.03 for the amount converted to a Roth IRA account?
Where does the Federal Income Tax Withheld get captured? I see the note that "We'll assume everything that wasn't rolled over or converted was cashed out or wound up somewhere other than a retirement account" but not sure how the Federal withholding is being accounted for.