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C
crabanillo
February 20, 2020
Question

When do I pay taxes on earnings from a ROTH to Traditional re-characterization?

  • February 20, 2020
  • 1 reply
  • 0 views
I did an excess contribution of $6000 to my ROTH IRA in 2019 - which I re-characterized (+earnings) to a Traditional IRA in February 2020. For the earnings that were re-characterized along with the excess contribution, do I have to pay tax on them in the 2019 return, 2020 return or when I get a distribution?

1 reply

M
MinhT1
February 20, 2020

Please read this TurboTax answer by dmertz which addresses your question.

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