I did a small Roth rollover conversion in 2024, within my Vanguard account. (Vanguard IRA brokerage account to Vanguard Roth IRA) How do account for this in my income? I didn't receive a 1099 for this conversion amount from Vanguard. Thanks!
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You should receive the 1099-R Form from Vanguard. You may have to log into your account online and print it out. If you don't you will need to enter into TurboTax a substitute form 1099-R as follows:
To enter a substitute form 1099-R in Turbo Tax Desktop follow these instructions:
To enter a substitute form 1099-R in Turbo Tax Online follow these instructions:
You would enter the gross rollover amount in box 1 and the taxable portion of it in box 2a. You would check the IRA box underneath box 7 and enter code 7 in box 7 for normal distribution. Then, answer the questions in the rest of the 1099-R entry screens.
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