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How do you file a conversation from Traditional 401 to a Roth 401 within the same retirement brokerage?

Did a 1 time conversion from Traditional 401 to Roth 401 in the same retirement company. How do you file this in TurboTax? 

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2 Replies

How do you file a conversation from Traditional 401 to a Roth 401 within the same retirement brokerage?

You should have received a 1099R for it.  Don't try to import it.  It's just as easy to manually enter it.

 

Enter a 1099R under
Federal Taxes
Wages & Income
Then scroll way down to Retirement Plans and Social Security
Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start
If you are adding another 1099R there might be a Add button at the bottom of the list.

dmertz
Level 15

How do you file a conversation from Traditional 401 to a Roth 401 within the same retirement brokerage?

This Form 1099-R would have code G in box 7 and the taxable amount in box 2a.  When asked, answer Yes, this money rolled over to a Roth 401(k) or Roth 403(b) account.

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