You'll need to sign in or create an account to connect with an expert.
Enter your 1099-R exactly as it is shown (especially the Box 7 Code).
Pay attention to the follow-up questions in TurboTax after your entry.
Click the link for more info on How to Enter a 1099-R.
Thank you. But every time I put in this information of $11,500 instead of $6,000, it charges me a tax of roughly $2,500
Also make sure that you entered your nondeductible traditional IRA contribution for 2019 and that your 2019 Form 8606 shows on line 2 the amount from line 14 of your 2018 Form 8606.
Finally, if you had other money in traditional IRAs, your Roth conversion is only partially nontaxable and your traditional IRAs retain the remainder of your basis in nondeductible traditional IRA contributions, shown on line 14 of your 2019 Form 8606.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Mhua326
New Member
kjharlan
New Member
yhu999
New Member
lzarybnicky
New Member
bryan1697
New Member