Form 1099-R IRA/SEP/SIMPLE box affecting refund

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livesoft
Posts: 62693
Joined: Thu Mar 01, 2007 8:00 pm

Re: Form 1099-R IRA/SEP/SIMPLE box affecting refund

Post by livesoft » Sat Jan 20, 2018 6:36 pm

susa wrote:
Sat Jan 20, 2018 5:47 pm
jebmke wrote: But somewhere in the process you are telling the software that this is a conversion, correct?
Just did our 2017 taxes using as only source/proof of income a Vanguard 1099-R and Code for Box 7 = 07.

HR Block 2017 Deluxe did not ask me if we did a conversion when moving funds from a T-IRA to a Roth IRA.

Was it supposed to? How would that appear on Form 1040?
My 2017 HRBlock does ask. You have to read carefully the interview questions and then answer appropriately, too, or you will not get to the conversion dialog(s). Hint: A roll over is not a conversion. You must answer " No, I didn't roll over this distribution." to get to the Roth conversion dialog.
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Alan S.
Posts: 7739
Joined: Mon May 16, 2011 6:07 pm
Location: Prescott, AZ

Re: Form 1099-R IRA/SEP/SIMPLE box affecting refund

Post by Alan S. » Sat Jan 20, 2018 7:16 pm

susa wrote:
Sat Jan 20, 2018 5:47 pm
jebmke wrote: But somewhere in the process you are telling the software that this is a conversion, correct?
Just did our 2017 taxes using as only source/proof of income a Vanguard 1099-R and Code for Box 7 = 07.

HR Block 2017 Deluxe did not ask me if we did a conversion when moving funds from a T-IRA to a Roth IRA.

Was it supposed to? How would that appear on Form 1040?
Yes, it was supposed to in the interview format. If the tax program does not know of the conversion it will place the taxable income on line 15, but will not generate Form 8606 to report a conversion to Roth. That might lead to the IRS not recognizing your Roth conversion basis later on, since their 5498 matching program is suspect.

pshonore
Posts: 6421
Joined: Sun Jun 28, 2009 2:21 pm

Re: Form 1099-R IRA/SEP/SIMPLE box affecting refund

Post by pshonore » Sat Jan 20, 2018 8:10 pm

If you work in Form mode in TT, all those questions and answers are visible at once. For example "Was any part of this a QCD?"

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