Withdrew 70k from my IRA and within 60 days 50k of that was deposited into a Roth at the same firm. They have issues a 1099R for the full 70k (instead of the difference, 20k). I believe I have to inform the IRS about the rollover to Roth of the 50k. Which form would that be? Thanks.
SMF, I typed a reply the other day, but I don’t see it here, so here goes again. I did a Roth Conversion in 2021, and I am already working on my 2021 taxes with HR Block Tax Cut software. In the section on Tax Cut, where I enter the “1099-R worksheet” $$ and other info from my Vanguard IRA 1099-R, there is also a place below the normal area that is completed, in section D for Roth Conversions, where I entered the amount (part of total taxable withdrawal I entered at top) for the Roth Conversion. In your case, you may end up entering it in section C #2 for Roth Rollover, since you got the money then put it in a Roth. In my case, I chose the Roth Conversion option on the IRA withdrawal section of Vanguard website, and one day after creating a new ROTH with them, I did the conversion and it went directly to the new account.