Turbotax is not giving an option when entering a 1099-Q for a conversion to a Roth

[SabrinaD2]

To report your 1099-Q in TurboTax, follow these steps:

1. Open Your Return: Start by opening your tax return in TurboTax.
2. Navigate to the 1099-Q Section:
   • TurboTax Online/Mobile: Use the search box  (magnifying glass top right of screen) type "1099-Q" and click the "Jump to" link.
   • TurboTax Desktop:Open or continue your return.
     1. Select Federal Taxes and then Deductions & Credits.
     2. Select I'll choose what I work on.
     3. Under Education, select Start or Update next to ESA and 529 qualified tuition programs (Form 1099-Q).Follow the screens to enter your info.
3. Enter Your Information: Follow the prompts to enter the details from your 1099-Q, including the total distribution (Box 1), earnings (Box 2), and basis (Box 3)

For more detailed guidance, you can refer to the TurboTax support article on entering Form 1099-Q

Here are some Important items to note:

If you received a 1099-Q for a trustee-to-trustee rollover, save it for your records. You don't need to enter it in your tax return if you meet these rules:

• The 529 plan must be open for at least 15 years.
• The lifetime rollover limit is $35,000 per beneficiary.
• The Roth IRA must be in the beneficiary's name.
• Contributions made within the past five years (and their earnings) can't be moved to the Roth IRA.
• The annual rollover limit is the IRA contribution limit for the year, minus any other IRA contributions.
• Rollovers must be plan-to-plan or trustee-to-trustee; you can't deposit a check from the 529 plan into the IRA.
• The beneficiary can roll over funds regardless of income but must have earned income. The rollover amount is limited to the lesser of earned income or the IRA contribution limit.

For more detailed guidance, you can refer to the TurboTax support article here