Reply To: handling rollovers on 2020 1040

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Alan S.

You need to report the conversion on Form 8606. For some tax programs you must enter it as a conversion, not a rollover. The taxable amount of the conversion ends up on line 4b of Form 1040, and “rollover” should show next to 4b. 4a should show the total amount of all the 1099R forms, but 4b should only show the amount converted. I assume you had no basis in the TIRA.

In other words, you would enter the normal rollovers into the program and separately enter the conversion. Line 4 will show the combined result. In case any question arises about the one rollover limit, Notice 2020-51 seems to absolve any would be 2020 RMDs returned by 8/31 from that limit.