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Level 1

How do I enter a partial conversion of a Rollover IRA to Roth IRA for 2018 taxes?

I am 57 years old and I did a partial conversion from a Rollover IRA to a Roth IRA in 2018 and I had State and Federal taxes taken out.  My 1099-R showed the distribution and taxes with the distribution code 2 in box 7- but when I put it into TurboTax it does not show the full conversion amount as Taxable income which I was expecting.  Also, I have a very small traditional IRA (with post tax contributions) but would not expect that to effect the amount.  Any help on how to put this into Turbo tax would be greatly appreciated.

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Level 20

How do I enter a partial conversion of a Rollover IRA to Roth IRA for 2018 taxes?

"Also, I have a very small traditional IRA (with post tax contributions) but would not expect that to effect the amount." - yes it does.

For tax purposes you only have ONE Traditional IRA which can be split between as many different accounts as you want, but for tax purposes they are all added together.   Any after-tax basis applies to any distribution from any Traditional IRA account.

TurboTax will ask for your non-deductible "basis" and then the *Total Value* of *all* Traditional IRA accounts as of Dec 31, of the tax year.   That is so the prorating of the basis can be properly proportioned between the current years distribution and the remaining IRA value.   That is done on the 8606 form.


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2 Replies
Level 20

How do I enter a partial conversion of a Rollover IRA to Roth IRA for 2018 taxes?

"Also, I have a very small traditional IRA (with post tax contributions) but would not expect that to effect the amount." - yes it does.

For tax purposes you only have ONE Traditional IRA which can be split between as many different accounts as you want, but for tax purposes they are all added together.   Any after-tax basis applies to any distribution from any Traditional IRA account.

TurboTax will ask for your non-deductible "basis" and then the *Total Value* of *all* Traditional IRA accounts as of Dec 31, of the tax year.   That is so the prorating of the basis can be properly proportioned between the current years distribution and the remaining IRA value.   That is done on the 8606 form.


View solution in original post

Level 1

How do I enter a partial conversion of a Rollover IRA to Roth IRA for 2018 taxes?

Thank you.  I did not realize that I was to enter the total of all of my IRAs both Rollover and traditional.  This was very helpful- thanks