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Tax question re: Roth conversion from my 403b during my last year of residency

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  • Tax question re: Roth conversion from my 403b during my last year of residency

    Hi all,

    I'm starting to work on my taxes through Turbotax and had a few questions regarding Roth conversions.

    I graduated residency in 2016 and am trying to convert my 403b into a Roth IRA (I still haven't paid taxes on the conversion). Also, I contributed after-tax dollars into my 403b and I'm attempting to convert that into my Roth IRA as well. How/where do I enter this information in turbotax? Thanks in advance!

  • #2
    You report the conversion in the year in which it happens. Since you have not yet made either of these conversions (if I am understanding "trying to convert" from your post correctly), there is nothing to report for 2016.
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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    • #3
      Sorry, I should have said I already converted my 403b into my Roth so I just want to make sure I fill out the forms correctly.

      For example, my wife's 1099-R from Vanguard says her gross distribution and taxable amount is $9800: $5500 of that was the back door roth and the other $4300 was converted from her 403B, so I was under the impression that $4300 would be taxed but the $5500 should be tax-free. However according to her 1099-R, both are included in the "taxable amount". Am I missing something?

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