I received one 1099-R which includes a taxable Roth conversion from my 403b to a Roth, and also a rollover from my 403b to a Rollover IRA (not taxable). The gross distribution and taxable amount are combined for these two events on this 1099-R. When I enter the 1099-R, Turbo Tax asks me if it is a Roth Conversion. I answered yes, and it adds the entire gross distribution to my Roth basis on the Roth IRA Info Worksheet. I only want the portion associated with the Roth to be included in the Roth basis, not the entire amount which includes a Rollover IRA which isn't a Roth. It doesn't appear there is a way to split it and when I go directly to the Roth IRA Info Worksheet it won't let me override it. It is calculating the tax correctly but I didn't want this to cause me other issues later on. How do I fix it? The only way I could think of is to enter the 1099-R as two separate pieces but then it won't match what the IRS receives. I want Turbo Tax to have my Roth basis listed properly.
Sorry I initially posted this in the "After you File" section. I have not filed yet so I am reposting here.
posted
February 10, 202411:29 AM
last updated
February 10, 202411:29 AM
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To accommodate TurboTax's limitations, you must split the Form 1099-R into two, one for the portion rolled over to the Roth IRA and that other for the portion rolled over to the traditional IRA.
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