Roth conversion tool

[pvelasco1]

I am 74 and want to convert over a 10 year period my IRA to a Roth. I understand TurboTax Premiere has a tool to help you do the calculations and tax implications but I am unable to find it in the online version. Does the desktop version has the tool? Do I have to buy the desktop version separately or is there a way to get the tool since I already paid for the online version. Please advise. 

[VolvoGirl]

I don’t know of a specific tool for that.  There is a What-if worksheet you can use in the Desktop program.   If you paid for the Online version you can ask support for the Desktop program.  After you take out the RMD each year can’t you just divide the remaining balance by the number of years left?  Why 10 years?   There is no set time to convert to a ROTH.   Or did you inherit this IRA?  Then you might have to take it out within 10 years.

[pvelasco1]

Thanks for getting back to me. According to this website the thefinancebuff.com, there is indeed a what-if-worksheet in the desktop version. I contacted TurboTax support desk and they sent me into a rabbit hole and couldn’t get what I wanted. It seems that I may have to buy the downloadable version in order to get the worksheet.

“The What-If Worksheet is only available in TurboTax downloaded software. It’s not in its online software. It’s another reason to use TurboTax downloaded software, not the online software. As far as I know, only TurboTax has it. H&R Block doesn’t have it. Neither does FreeTaxUSA.

Plan for Roth Conversion

I’ll show you how to plan for Roth conversion with this Work-If Worksheet in TurboTax by the same example I used in the previous post Roth Conversion with Social Security and Medicare IRMAA.“

[VolvoGirl]

Didn’t support give you the Desktop download?  Did they say you have to buy it?  Or cant you find it in your account?  You can buy the CD/Download here or in stores.  You need a full Windows or Mac computer to install it. You can buy any version so just get Deluxe.

https://turbotax.intuit.com/personal-taxes/cd-download

Then to switch your online return and continue in the desktop version see this…….

https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-th...

Download the .tax2023 file for free

How do I save my TurboTax Online return as a tax data file?

After you get the program installed the first thing to do before you open your tax return .tax file is to update the program and install any state programs you had. Then open your file. So you first might need to start a fake return to be able to download the state program (go to F.ILE - NEW).  Just enter some basic personal info like your name and address then click on the State tab at the top and it should ask if you want to download the state program.

[pvelasco1]

Thanks again for helping. Finally got someone at Support that fully understood what I needed; but, in spite of my rationale for not having to buy a copy of TurboTax Premiere, she said that was the only way to get the “What-if” spread sheet. Because I already had completed my 2023 tax return, she couldn’t issue a refund for the on line version and then have me purchase the desktop version. She said the system doesn’t allow her to give me a free copy. I pleaded to talk to her manager but she said he/her will tell me the same thing. 
I then downloaded TaxCaster for IOS from the Apple Store, which allows you to do some simulations; but,  it is a piece of crap.

Anyway, I am extremely disappointed with TurboTax since I have been a loyal customer for close to 20 years and don’t have an alternative. Further, I don’t want to pay exorbitant amounts of money to a CPA to do the what-if simulations that I can do myself. Best regards.