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Level 2
February 19, 2020
Question

Roth Conversion and Fidelity Download

  • February 19, 2020
  • 2 replies
  • 30 views

This past year I converted funds from a traditional IRA to my Roth..... both were held at Fidelity.  I have downloaded my Fidelity data....... my questions is..... did this conversion/reinvestment transfer to Turbo Tax or should I be adding it to my Retirement Investment (Traditional & Roth IRA Contribution) section?

Also did the same download give me credit for my investment management fees paid?

    2 replies

    Level 15
    February 19, 2020

    Do not include the Roth conversion anywhere under Deductions & Credits.  It's entirely reported by entering the  Form 1099-R that reports the distribution from the traditional IRA and answering the questions that immediately follow to indicate that you moved the money to another retirement account and the amount that you converted.

    altrpAuthor
    Level 2
    February 24, 2020

    Thank you....