I did Mega backdoor roth to convert the traditional after tax 401k to Roth IRA account in 2022.
In Turbotax, how to enter the wages & income, and then how to enter the deductions and credit?
Thanks.
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Under Wages & Income, enter the code-G Form 1099-R and indicate that you rolled the money over to a Roth IRA.
Nothing about the rollover to Roth IRA is goes under Deductions & Credits.
A 1099-R will be issued by the 401K custodian and a code will be listed in box 7 which you cannot change. After you enter the 1099-R in the program continue thru each and every screen in that section to indicate the amount of basis in the account if any and the amount converted.
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