IRA to Roth conversion TY 2020

Forum|Forum|5 years ago
January 26, 2021
8 replies
29 views

I want to show IRA to Roth conversion that I have done in TY 2020. But when I run through the suggestions for this, it brings me to "non-deductible IRA contribution for 2020". I do not have that. All I have is the conversion. I do not see the option where I can choose "Convert $ from IRA to Roth IRA".

How do I get this option?
Alternately, is there a way to fill out form 8606 directly and submit directly.

Any help will be greatly appreciated.

Best answer by macuser_22

the dist code is 7 - normal distribution.

@prakashraj wrote:

the dist code is 7 - normal distribution.

Just select that you moved the money to another account and choose the convert button.

Opus 17

Level 15

Do you have your 1099-R yet for the IRA withdrawal? When you enter the 1099-R, you will be asked what you did with the money. If you indicate it was a Roth conversion, Turbotax will do the correct form.

prakashrajAuthor

Level 2

Thanks for the answer.

I have 1099R. When I fill out the information from it, it asks me whether I rolled money into another IRA. But it does not ask me if I converted it to Roth IRA. I am not able to understand why is this so?

Any idea?

THanks.

Opus 17

Level 15

I haven’t tested this part of the program. If you select Rollover, it might take you to another page where you can say it was a rollover to a Roth instead of another traditional IRA.