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TVS56
Returning Member

IRA rollover to Roth

I converted 50k from an IRA to a Roth IRA. In the amount moved into the Roth IRA do I enter 50k or the after tax amount?

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2 Replies
MinhT1
Expert Alumni

IRA rollover to Roth

The rollover is for $50k and you enter $50k.

 

This rollover is taxable. The tax liability and the tax withheld are dealt with separately.

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dmertz
Level 15

IRA rollover to Roth

Only the amount of the distribution that made it to the Roth IRA was converted.  If you had taxes withheld from the distribution and you did not substitute other funds to make up the difference, the portion withheld for taxes was not converted.

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