topic Modifying taxable amount on 1099-R in Retirement tax questions

Modifying taxable amount on 1099-R

vermettedc — Mon, 03 Jun 2019 18:00:38 GMT

I have a 1099-R form for a Traditional IRA to Roth IRA conversion. Box 1 (Gross distribution) and 2a (Taxable amount) are both set to the same number and Box 2b (Taxable amount not determined) is checked. I have a basis carryover for this Traditional IRA but I don't see any place to lower the taxable amount by this basis, so Turbo Tax is trying to tax me for the entire amount in Box 1 and 2a. How do I get the basis points factored in?

After entering your 1099-R and indicating that it was con...

DanaB — Mon, 03 Jun 2019 18:00:39 GMT

After entering your 1099-R and indicating that it was conversion to Roth IRA there should be a question coming up "Any Nondeductible Contributions to X IRA?" After that TurboTax will walk you through some questions to enter the basis you had in the traditional IRA.

To reach this question, be sure to click the Continue but...

dmertz — Mon, 03 Jun 2019 18:00:40 GMT

To reach this question, be sure to click the Continue button on the Your 1099-R Entries page.

I also had to select IRA contribution in addition to Roth...

vermettedc — Mon, 03 Jun 2019 18:00:41 GMT

I also had to select IRA contribution in addition to Roth IRA contribution to reach that question