turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Nondeductible traditional ira convert to roth ira

I bought $5500 nondeductible traditional ira for 2013 tax year, 8606 form was submitted by turbo tax back then. In 2016 I converted it to roth ira, the investment company sent me the 1099R,box1 showed "$5690" and box 7 showed code "2" with ira/sep/simple box "checked". I followed instruction to fill in this year's Turbo tax (wage/income session), filled base of $5500 and "0" in value of traditional ira on Dec 31, 2016. So before I click the efile button at the last step, where can I confirm the tax was only charged from the difference of $5690-$5500(base)? " 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
ThomasM
New Member

Nondeductible traditional ira convert to roth ira

Sounds like you did everything correctly.  You can verify it by looking at page 1 of your 1040, lines 15a & 15b.  Line 15a should have the gross distribution of $5690, and 15b (amount taxable) should have only the $190 difference.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies