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Woodman228
Level 3

Moved Money from IRA to Roth

 
2 Best answer

Accepted Solutions
SweetieJean
Level 15

Moved Money from IRA to Roth

If you went from a Traditional IRA to a Roth IRA, then this is taxable IRA conversion.

Enter the 1099-R in Federal > Wages and Income > Retirement, and then answer the questions.

View solution in original post

DanaB27
Expert Alumni

Moved Money from IRA to Roth

To enter the 1099-R distribution/conversion from traditional IRA to Roth IRA: 

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R”
  4. Click "Continue" and enter the information from your 1099-R
  5. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA
  6. On the "Your 1099-R Entries" screen click "continue"
  7. Answer "yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
  8. Answer the questions about the basis
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

2 Replies
SweetieJean
Level 15

Moved Money from IRA to Roth

If you went from a Traditional IRA to a Roth IRA, then this is taxable IRA conversion.

Enter the 1099-R in Federal > Wages and Income > Retirement, and then answer the questions.

View solution in original post

DanaB27
Expert Alumni

Moved Money from IRA to Roth

To enter the 1099-R distribution/conversion from traditional IRA to Roth IRA: 

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R”
  4. Click "Continue" and enter the information from your 1099-R
  5. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA
  6. On the "Your 1099-R Entries" screen click "continue"
  7. Answer "yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
  8. Answer the questions about the basis
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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