turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

1099R with RMD with Roth conversion

My 1099R has  RMD and ROTH Conversion from my IRA Account. 

Assuming my 1099R has both, say my RMD = $35,000 & my Roth Conversion is $15,000

Since I cannot directly get my RMD into my ROTH, I have to do a $15,000 conversion to ROTH.

Because Schwab need to do tax withholding, say, $2,000 was withheld and only $13,000 was transferred to my ROTH account.

So TT has a question:

What is the amount converted to ROTH IRA Account?  Is it $15,000 before tax withholding or $12,000 after? 

Thanks

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question