Where do I report a traditional IRA to Roth IRA conversion?
conservamus93
Member Posts: 1 Newcomer
This year I both contributed a non-deductible amount into my traditional IRA ($7,000) and also converted an existing deductible amount of my traditional IRA to a Roth IRA ($15,000) so I will need to pay taxes on the amount of $15,000. I'm not sure where to find a box to indicate that the $15,000 is the existing traditional IRA that was converted into Roth IRA in the software? Can somebody please help? Thank you
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Best Answer
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You would enter information from the 1099-R you received for the conversion. After you do that, the software will ask if any of the money was converted.
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