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Traditional 457(b) to Roth 457(b) conversion

How to I reflect some traditional 457(b) funds were converted to a Roth 457(b)?  TurboTax asks:

"Is this 1099-R reporting a rollover of funds from a 401(k), 403(b), or governmental 457(b) plan to a designated Roth 401(k) or Roth 403(b)?"

However, it never asks if it was rolled over into a Roth 457(b).  Thanks.

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3 Replies
DanaB27
Expert Alumni

Traditional 457(b) to Roth 457(b) conversion

Yes, you would answer "yes" to "Is this 1099-R reporting a rollover of funds from a 401(k), 403(b), or governmental 457(b) plan to a designated Roth 401(k) or Roth 403(b)?" for your situation.

 

 

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Traditional 457(b) to Roth 457(b) conversion

Thanks. That certainly makes sense, but do you know why the question didn’t specify Roth 457(b)? Was it an oversight?

Traditional 457(b) to Roth 457(b) conversion

I had this exact same issue and spent over an hour today on the phone with a Turbo Tax customer assistance rep who in turn conferenced in a "resolution" specialist who is turn was on the phone with someone else in some other office.  The call ended up being cut off before anything was resolved.  I was trying to persuade the reps that one of the questions should expressly address the option of a conversion of a pre-tax 457 to a post-tax 457.  

 

Meanwhile, on my own, I decided that absent some change to the software in the next 2 weeks, I'll resolve the issue the way that the first person who responded to your question proposed.  

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