IRA conversion to Roth

[rb6042]

I converted from a traditionally IRA to A Roth IRA in December 2020. Form1099-R show a distribution of $20,000 with a tax withheld of $20,000. Which is not the amount the I converted. I do not understand why the amount of the conversion doesn't show.  

[dmertz]

@rb6042 , an amount in box 4 equal to the amount in box 1 is highly unusual unless you received a separate Form 1099-R reporting the portion of this distribution that was converted to Roth.

Did you receive separate Form 1099-R for the portion converted to Roth?  Check with the traditional IRA custodian to be sure.

If you did receive a separate Form 1099-R for the portion converted to Roth, what is the code in box 7 of that Form 1099-R?

What is the code in box 7 of the Form 1099-R that has box 4 equal to box 1?

Is the IRA/SEP/SIMPLE box marked?

[apmcdowell]

when entering 2099R how to avoid the conversion amount from showing up as income except for the tax being paid?

[macuser_22]

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@apmcdowell wrote:

when entering 2099R how to avoid the conversion amount from showing up as income except for the tax being paid?

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A Traditional IRA to Roth conversion is taxable unless there is some non-deductible basis in the IRA, then it must be prorated between the converted amount and the total year end value of all existing Traditional IRA accounts on a 8606 form.

[rb6042]

I did not received a 1099R showing the conversion amount from my investment company. I transferred all tax form from Fidelity to TurboTax.

[rb6042]

The 1099R that I received show all the distribution for the RMD for 2020 and the total include the amount converted to the Roth IRA. but no 1099R show the amount of the conversion.