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posted Jun 1, 2019 9:13:35 AM

I received a 1099-R and a Form 5498 for a rollover conversion I made from my 401(k) to my Roth IRA. How do I report this properly?

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1 Replies
Level 15
Jun 1, 2019 9:13:37 AM

To enter pension and annuity Payments (1099-R)

•    Click on Federal Taxes
•    Click on Wages and Income
•    Click on I'll choose what I work on (if shown)
•    Scroll down to Retirement Plans and Social Security
•    On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

If this is from a Traditional (non-Roth) 401K to a Roth IRA it is taxable income.  TurboTax will ask what it was rolled into.