Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Mar 19, 2024 1:37:14 PM

Multiple Uses of Money from one 1099-R

I am entering information from a Vanguard 1099-R for money taken from a traditional IRA.  Approximately 2/3 of the total withdrawn was converted to a ROTH IRA.  The other 1/3 was cashed out.  How do I answer the question: "What did you do with the money from Vanguard Fiduciary Trust Company?"  The options are either/or:  "Matt moved the money to another retirement account (or returned it to the same retirement account)" OR "Matt did something else with it (cashed out, etc.).  Both are correct.

0 1 1164
1 Replies
Level 15
Mar 19, 2024 2:26:09 PM

Select "Matt moved the money to another retirement account (or returned it to the same retirement account)" .

 

The next pop up screen will give you a chance to split it.