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ramsgusom
New Member

How to separate retirement account events on Turbotax?

I rolled over my 401k into a traditional IRA, and then converted that into a Roth IRA. $5600. I want to pay tax on this $5600 to make it Roth. But turbotax is not letting me.

I also made my annual 2018 contribution to my Roth IRA of $5500, which I later recharacterized to a Traditional IRA. Only because I am not allowed to make direct Roth IRA contributions (income limits) - so I have to do the backdoor. But the backdoor was done in 2019, so I have to deal with that next year.

Anyways. when I look at the worksheet, Turbotax is only asking me to pay tax on $100 ($5600  - $5500). It is combining the two separate events. How do I fix this?

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4 Replies
MarilynG
Expert Alumni

How to separate retirement account events on Turbotax?

Here's detailed steps to help you:

https://ttlc.intuit.com/replies/6768029

Info on IRA to Roth conversions:

https://ttlc.intuit.com/replies/3302189


Edited 4/15/19 5:19 pm

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ramsgusom
New Member

How to separate retirement account events on Turbotax?

That's not what I asked. I am talking about a 401k here.
MarilynG
Expert Alumni

How to separate retirement account events on Turbotax?

You said you rolled over 401k to traditional IRA then IRA to Roth. You should have a non-taxable1099-R with Code G to report the rollover from 401k to traditional IRA.  Conversion from IRA to Roth reported on Form 8606.
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ramsgusom
New Member

How to separate retirement account events on Turbotax?

But I cannot enter the 401k as a traditional IRA contribution?
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