turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
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.

bobafett3434
Returning Member

2 Roth In-plan conversion questions

I am on these prompts. I have $1,000 that was part of automatic in-plan conversions from an after-tax 401k to a Roth 401k and I'm reporting it. Does after-tax 401k count as "regular 401(k)" in this case? The Turbo Tax question is below:

Did you move this money from a 401(k) to a Roth 401(k)?

This includes rollovers from a regular 401(k), 403(b) or 457(b) plan to a designated Roth 401(k), 403(b) or 457(b) plan.
 
Also, if I contribute to after tax 401k, but it automatically gets converted to Roth 401k, would I answer "no" to this question? This is for the same $1,000 automatic in-plan conversion:
 
Did you make after-tax contributions to a 401(k), 403(b), or 457(b) plan?
 
Guessing I answer "no" since these funds were converted to Roth from after-tax?
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.

3 Replies
DanaB27
Employee Tax Expert

2 Roth In-plan conversion questions

Yes, you will answer "Yes" to the "Did you move this money from a 401(k) to a Roth 401(k)?" screen.

 

You will also answer "Yes" to "Did you make after-tax contributions to a 401(k), 403(b), or 457(b) plan?" (this amount should be listed in box 5 of your Form 1099-R).

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
bobafett3434
Returning Member

2 Roth In-plan conversion questions

Gotcha, just double checking, even if I have no balance in my after-tax 401k, just roth 401k, I still answer yes that I contributed to after tax? It gets converted (in-plan conversion) automatically to Roth when my paycheck comes in.

DanaB27
Employee Tax Expert

2 Roth In-plan conversion questions

Yes, if you have an amount shown in box 5 on your Form 1099-R then you will answer "Yes" and the amount of after-tax contributions should be listed already.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies