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MRiver1528
New Member

ROTH Conversion data entered but do not seem to be shown on the TAX Return Forms

On our joint return wife entered a 457 to ROTH conversion which shows up correctly on the final Non deductible IRA form 8606,  husband entered a 401K to ROTH conversion in the data table, but no form 8606 Non Deductable IRA form is being generated.  What is going on here?  Both taxable events should have a 8606 right?  If so, there is a format / data entry error?

 

Regards,

 

Dick

1 Best answer

Accepted Solutions
dmertz
Level 15

ROTH Conversion data entered but do not seem to be shown on the TAX Return Forms

A 457(b) to Roth conversion should not appear on Form 8606 unless the conversion was a two-step process with the 457(b) first rolled over to a traditional IRA (reported on one Form 1099-R) and the traditional IRA subsequently rolled over to a Roth IRA (reported on a second Form 1099-R).  A 457(b) or 401(k) rolled directly to a Roth IRA, as appears to be the case with your 401(k) to Roth IRA rollover, is not reportable on Form 8606.

 

If the rollover form the 457(b) to the Roth IRA was done in a single step, make sure that you did not mistakenly mark the IRA/SEP/SIMPLE box on TurboTax's 1099-R form when entering the Form 1099-R that is reporting the distribution from the 457(b).

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1 Reply
dmertz
Level 15

ROTH Conversion data entered but do not seem to be shown on the TAX Return Forms

A 457(b) to Roth conversion should not appear on Form 8606 unless the conversion was a two-step process with the 457(b) first rolled over to a traditional IRA (reported on one Form 1099-R) and the traditional IRA subsequently rolled over to a Roth IRA (reported on a second Form 1099-R).  A 457(b) or 401(k) rolled directly to a Roth IRA, as appears to be the case with your 401(k) to Roth IRA rollover, is not reportable on Form 8606.

 

If the rollover form the 457(b) to the Roth IRA was done in a single step, make sure that you did not mistakenly mark the IRA/SEP/SIMPLE box on TurboTax's 1099-R form when entering the Form 1099-R that is reporting the distribution from the 457(b).

View solution in original post

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