I'm trying to evaluate the effect of converting a distribution from my Traditional IRA to my existing Roth IRA using the 2019 Desktop version of TurboTax. - TurboTax Desktop Premier for 2019 taxes.- 1099-R entered, Line 7 code is "7-Normal Distribution"- The IRA/SEP/SIMPLE box is checked.Am I doing this correctly?On screen "About This Retirement Account", "Was this withdrawal an RMD for 2019?" Check the bullet "No, None of this withdrawal was an RMD".On the screen "What did you do with the money" - Check the bullet "I converted all of this money to a Roth IRA Account"Form 8606T now shows in the Forms view and seems to be correct.Is this the correct way to do this?

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Question

How To Report A Roth Conversion From A Traditional IRA - Desktop Version

Forum|Forum|5 years ago
November 3, 2020
1 reply
0 views

I'm trying to evaluate the effect of converting a distribution from my Traditional IRA to my existing Roth IRA using the 2019 Desktop version of TurboTax.

- TurboTax Desktop Premier for 2019 taxes.

- 1099-R entered, Line 7 code is "7-Normal Distribution"

- The IRA/SEP/SIMPLE box is checked.

Am I doing this correctly?

On screen "About This Retirement Account", "Was this withdrawal an RMD for 2019?" Check the bullet "No, None of this withdrawal was an RMD".
On the screen "What did you do with the money" - Check the bullet "I converted all of this money to a Roth IRA Account"

Form 8606T now shows in the Forms view and seems to be correct.

Is this the correct way to do this?