Tracking cost basis - does 401k count as "Traditional IRA"?

[Need2Know2]

I think this is a simple question, but the answer isn't obvious to me. On TurboTax, I'm trying to fill in the fields for tracking my cost basis for my Roth IRA. In 2017, I converted a 401k from my previous employer to a Roth IRA. I think it was a trustee-to-trustee transfer; I got a check for the 401k, then sent it to the company with whom I had a pre-existing Roth. They put the check in a "Rollover IRA brokerage account," which I then transferred to my pre-existing Roth.

So...to track my cost basis, TurboTax is asking me to enter all previous contributions, but NOT to include amounts converted from a "traditional IRA." I am aware that a 401k is not technically considered an IRA, but for this purpose, would it be considered a traditional IRA? That is, would I NOT include the amount converted from my 401k in the contributions section, then fill in the amount later when the program asks about conversions from traditional IRAs?

Thank you!

[macuser_22]

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@Need2Know2 wrote:

I think this is a simple question, but the answer isn't obvious to me. On TurboTax, I'm trying to fill in the fields for tracking my cost basis for my Roth IRA. In 2017, I converted a 401k from my previous employer to a Roth IRA. I think it was a trustee-to-trustee transfer; I got a check for the 401k, then sent it to the company with whom I had a pre-existing Roth. They put the check in a "Rollover IRA brokerage account," which I then transferred to my pre-existing Roth.

So...to track my cost basis, TurboTax is asking me to enter all previous contributions, but NOT to include amounts converted from a "traditional IRA." I am aware that a 401k is not technically considered an IRA, but for this purpose, would it be considered a traditional IRA? That is, would I NOT include the amount converted from my 401k in the contributions section, then fill in the amount later when the program asks about conversions from traditional IRAs?

Thank you!

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Yes, you must manually enter the basis from your 401(k) that in the previous non-deductible contributions.   Once rolled into an IRA it is treated as a non-deducible contribution to that IRA.

[Need2Know2]

I'm still a bit confused...when I converted my 401k, it went into a temporary IRA account at the company with whom I had a pre-existing Roth. Then I transferred it from that temporary account into my Roth IRA. So for the purpose of entering it into TurboTax, it would be considered a conversion from a traditional Roth, right?