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Does a Traditional to Roth IRA conversion count as a Roth contribution?

In early 2015 I moved funds from a traditional IRA at Fidelity to a traditional IRA at Vanguard.  I then moved the funds to a Roth IRA at Vanguard.  I have entered the information from the 1099-R that I received in the Wages and Income section.  Do I also need to enter the money as a Roth contribution in Deductions and Credits?
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rainydaze
New Member

Does a Traditional to Roth IRA conversion count as a Roth contribution?

No, a conversion is not the same as a contribution.  Do not enter the funds twice.  As long as you entered the 1099-R, you're covered.  If you weren't eligible to make a direct contribution for the year to a Roth IRA, entering the funds again in the Deductions and Credits section will cause a penalty to be calculated.  

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1 Reply
rainydaze
New Member

Does a Traditional to Roth IRA conversion count as a Roth contribution?

No, a conversion is not the same as a contribution.  Do not enter the funds twice.  As long as you entered the 1099-R, you're covered.  If you weren't eligible to make a direct contribution for the year to a Roth IRA, entering the funds again in the Deductions and Credits section will cause a penalty to be calculated.  

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