topic Re: Roth conversion in Retirement tax questions

Roth conversion

John Maxey — Fri, 04 Apr 2025 20:38:53 GMT

I withdrew $78,000 from my traditional IRA. $26,000 was RMD. The remaining $52,000 I converted to my Roth IRA. Smart Check says the "... Roth conversion amount cannot be greater than the amount on line B1, the amount that potentially could be converted to a Roth IRA. There is no line "B1" on my 1099R. What do I do now ???

Re: Roth conversion

VolvoGirl — Fri, 04 Apr 2025 20:44:48 GMT

Did they take any tax withholding out? Did the full 52,000 actually go into the ROTH or less because of the withholding? What code is in box 7 ?

Re: Roth conversion

VolvoGirl — Fri, 04 Apr 2025 20:50:52 GMT

In my Desktop program I opened the 1099R worksheet. Line B1 says.....

Check this box if the entire distribution rolled over. So you should say NO or don't check it.

Line B2 should be the amount of the partial rollover.