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posted Feb 20, 2025 11:19:54 PM

should I include after-tax 401k assets converted to Roth then subsequently rolled over into my Roth IRA when tracking basis for the Roth IRA?

turbo tax mentions to only include regular Roth contributions and not IRA conversions but doesn't mention rollovers.

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1 Replies
Level 15
Feb 21, 2025 3:50:48 AM

A rollover from a designated Roth account in the 401(k) to a Roth IRA, if done by direct rollover, would be reported on a code-H  Form 1099-R.  This addition to your basis in your Roth IRAs should automatically be tracked by TurboTax when you enter this Form 1099-R into TurboTax.  Examine TurboTax's IRA Information Worksheet after entering this Form 1099-R.