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Get your taxes done using TurboTax
Following up on the comments from @MinhT1 and @DanaB27, it should be the excess contribution amount, not including the earnings. TurboTax guidance provides the following regarding the screen you are seeing:
- On the next screen, Tell Us How Much You Transferred, enter the excess contribution amount (don't include earnings or losses)
- On the screen, Roth IRA Explanation Statement, enter the original amount plus the amount of earnings or loss that were re-characterized.
Below is a link to the TurboTax article that explains a Roth re-characterization to a Traditional IRA.
How do I re-characterize a Roth IRA contribution as a traditional IRA contribution in TurboTax?
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March 2, 2023
7:39 AM