Is a 2024 ROTH conversion as reported by a 1099R also considered as a 2024 ROTH contribution? Should the same amount also be entered in the Deductions and Credit Section as a 2024 ROTH contribution?
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No, it is not the same thing. If you completed a Roth conversion, and did not directly contribute to a Roth, you did not make a Roth contribution.
It sounds like you made a non-deductible IRA contribution and converted it to a Roth in a "Backdoor Roth Conversion." If that is the case, in the Deductions & Credits section, you will enter a Traditional IRA. Then, separately, you will enter the 1099-R in Wages & Income, and indicate there that you converted it to a Roth.
Here are the detailed steps to report a backdoor Roth: How do I enter a backdoor Roth IRA conversion?
Thank you for your response.
My situation was a simple IRA to Roth Conversion. I did not also make a separate and direct ROTH contribution. This was not a backdoor transaction.
I just needed to verify that a simple conversion is also not treated as a ROTH contribution on another TT screen.
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