Converting a Traditional IRA to Roth IRA

To report a conversion, the taxpayer will be issued Form 1099-R showing the total distribution made from their Traditional IRA account. The full distribution does not need to be converted to a Roth IRA. However, any amounts not converted are subject to additional taxes and penalties. Conversions must be reported on Form 8606, Part II. Form 1099-R must be entered into the tax program before computing the taxable amount on Form 8606.

This information applies to all years of the UltimateTax software.

Solution Articles: 
Railroad Benefits (RRB-1099)
1099-R State Instructions