New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

What should I enter in the Conversion from traditional IRAs to Roth IRAs field in Screen IRA?

Answer

Enter 2 if the taxpayer converted all of the assets in their traditional IRAs to Roth IRAs and received no other distributions (withdrawals) from the traditional IRAs during 2018. For all other conversion scenarios, enter 1. The tax application generates a diagnostic when this field is blank and conversion amounts are present in Screen 1099R.

Related topic: Individual retirement account FAQs (1040)

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