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chloebooher-gmai
June 30, 2020
Question

I recharacterized a rIRA to a tIRA. I had accrued interest. Do I state that I rechar'd the original contribution amount or the original amount plus interest?

  • June 30, 2020
  • 1 reply
  • 0 views
I recharacterized a rIRA to a tIRA.  At the time I recharacterized, I had gained interest.  When filing on Turbotax do I state I recharacterized the original contribution amount or the original contribution amount plus the interest gained?

1 reply

macuser_22
macuser_22
Employee
June 30, 2020

Do you have a 1099-R that reports that or was it recharactorized in 2020?

 

What code is in box 7?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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