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IRA to Roth Conversion

I transferred funds from my IRA to my Roth IRA.  Both accounts are help at the same brokerage firm.  

 

I have the 1099-R which I have entered in TTax Premier. However, I have not found anyplace to indicate that it was a conversion, not a rollover (as defined in the TTax Help page). Right now it is not charging me any tax on the amount which I know to be incorrect. 

 

How do I correct this?

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1 Best answer

Accepted Solutions
dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

IRA to Roth Conversion

When entering the Form 1099-R, on the page that asks what you did with the money indicate that you moved the money to another retirement account, that you did a combination of rolling over, converting and cashing out, then indicate the amount moved to the Roth IRA.  If necessary, delete and reenter the Form 1099-R.

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2 Replies
KrisD15
Expert Alumni

IRA to Roth Conversion

Here is a link for the steps to do that in TurboTax. 

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dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

IRA to Roth Conversion

When entering the Form 1099-R, on the page that asks what you did with the money indicate that you moved the money to another retirement account, that you did a combination of rolling over, converting and cashing out, then indicate the amount moved to the Roth IRA.  If necessary, delete and reenter the Form 1099-R.

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