How to enter the post tax Roth IRA roll over

[JianL]

I rolled over only the post tax contribution from my transitional IRA to Roth IRA. The 1099R shows the taxable amount with 2b (taxable amount not determined) checked. 

TurboTax takes all the amount reported in 1099R 2a as taxable. Where should I tell TurboTax this amount is post tax and should not be taxed again?

Is it something need to deal with the "basis"? I have my 401K. All my post tax contribution goes into traditional IRA first, and then overall to Roth IRA. Should the basis be 0?

[macuser_22]

You can NEVER withdraw ONLY the nondeductible part - it must be prorated over the entire value of ALL Traditional IRA accounts which include SEP and SIMPLE IRA's. (For tax purposes you only have ONE Traditional IRA which can be split between as many different accounts as you want, but for tax purposes they are all added together).

For example using rough figures: if you had $60K of nondeductible contributions in an IRA with a total value of $600K (10:1 ratio), then when you take a $60K distribution from any IRA account $6,000 would be nontaxable and $54,000 would be taxable (same 10:1 ratio) , with the remaining $54K of basis staying in the IRA for future distributions. As long as there is any money in the IRA, there will be some basis.

TurboTax will ask for your non-deductible "basis" and then the *Total Value* of *all* Traditional IRA, SEP and SIMPLE accounts as of Dec 31, of the tax year. That is so the prorating of the basis can be properly proportioned between the current years distribution and the remaining IRA value. That is done on the 8606 form.

Enter a 1099-R here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

You will be asked of you had and tracked non-deductible contributions - say yes. Then enter the amount from the last filed 8606 form line 14 if it did not transfer. Then enter the total value of any Traditional, SEP and SIMPLE IRA accounts that existed on December 31, 2019.

That will produce a new 8606 form with the taxable amount calculated on lines 6-15 and the remaining carry-forward basis on line 14.

NOTE: If there is an * next to line 15 then 6-15 will be blank and the calculations will be on the "Taxable IRA Distributions worksheet instead.

[JianL]

Thanks a lot for the information!

My pre tax contribution is in 401k. All money in IRA is post tax. I put them input traditional IRA and then roll over all of them into Roth IRA.

So the total value of "total value of any Traditional, SEP and SIMPLE IRA accounts that existed on December 31, 2019" is $0. The total value for 2018 is $0 too. But TurboTax takes all the rollover money as taxable. 

I can't find anywhere to input the post tax money.

Did I go wrong anywhere?

[macuser_22]

See my answer above:

You will be asked of you had and tracked non-deductible contributions - say yes. Then enter the amount from the last filed 8606 form line 14 if it did not transfer. Then enter the total value of any Traditional, SEP and SIMPLE IRA accounts that existed on December 31, 2019.

If you rolled pretax money from the 401(k) into the Traditional IRA then you add that amount to the "Prior year contributions"   instead of (or in addition to) the last 8606 amount.   If TurboTax asks for an explanation then just say it was the basis from a 401(k) rollover (that will be asked only if there was a carry over amount from 2018)