Roth recharacterization

Forum|Forum|2 years ago
February 19, 2024
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I initially contributed $7500 to Roth IRA for 2023 tax year, but later recharacterized $7600 (including the gains) to traditional IRA in Feb.

1. How do I report my IRA contribution type and amount for 2023 tax return?

2. How do I report the recharacterization on my return?

2. Will I receive by the tax filing deadline any recharacterization associated tax forms which are needed to file my 2023 tax ?

IRA

fanfare

Employee

recharacterization: the original amount to the first IRA you report as contribution to the second IRA, earnings move but are ignored.
You must use a trustee-to-trustee transfer.
report this on your tax return for the year during which the contribution was made.

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Your amount recharacterized is $7,500

@59579