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Single 1099-R for normal distributions and Roth Conversion

I received a single 1099-R form showing my IRA distributions. However, 50% of the funds was normal distribution (cashed out) and the remaining 50% was used for a Roth conversion (both of which were taxable events). Currently, I entered 2 different entries into TurboTax representing the 2 amounts to book-keep the Roth conversion. Is this necessary, or should I just combine into the single amount listed on my 1099-R form (If I split, with the IRS be confused with 2 entries, but only 1 form)? Or do I need to request 2 different 1099-R forms with the appropriate balances? 

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2 Replies
dmertz
Level 15

Single 1099-R for normal distributions and Roth Conversion

The custodian combining these two distributions on a single (probably code 7) Form 1099-R is correct.  As long as you did not roll over any part of this to another traditional IRA, you can enter this as a single Form 1099-R, indicate that you moved the money to another retirement account, that you did a combination of transactions and indicate the amount that was converted to Roth.  The remainder will be treated as a distribution not rolled over.  If you did do a combination of rolling over and converting, you will need to split the Form 1099-R as you have done.

Single 1099-R for normal distributions and Roth Conversion

Thanks you so much. Updated per your suggestion.

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