Hi, I'm filing taxes for my wife and I in TurboTax. She contributed to a Roth IRA last year (2025) and our income exceeded the limits, so she is doing a recharacterization of that contribution.
TurboTax has generated the "Recharacterization Explanation" form on our return but the "Amount Recharacterized" on that form is blank, and I cannot figure out where I have done wrong. These are the steps I've done:
1. On "Select the kinds of IRAs owned or contributed to for 2025.", I've selected Traditional and Roth for myself and Roth for my wife.
2. Completed all the questions that start with "MY traditional IRAs" and "MY traditional Roth IRAs" (I don't believe my IRAs are relevant to the issue)
3. Reached the screen titled "WIFE's Roth IRAs" and answered questions as follows:
- Was the contribution a repayment of money [wife] previously took out of a retirement plan?: No
- Was [wife] a member of the military reserves, called to active duty between September 12, 2001 and December 31, 2025, and took money out of his/her retirement plan? No
- Enter [wife's] regular Roth IRA contributions: $7000
- How much of [wife's] contribution to this Roth IRA did [wife] switch, or "recharacterize", to your traditional IRA? $7000
- Enter your recharacterization information: 01/01/2025, 03/15/2026, Income Limits, $7100
- Did [wife] open any Roth IRAs in 2024 or any previous year? Yes
- Do you want to track [wife's] Roth IRA basis? No
- Did [wife] contribute more to a Roth IRA than was allowed in 2024 or any previous year? No
Those are all the questions I get. The generated 8606 looks good I think, it has $7000 on lines 1, 3, and 14 and 0 on line 2. But the Recharacterization Explanation form looks like this:
Date of the Original Contribution: 01/01/2025
Date of the Recharacterization: 03/15/2026
The Amount Recharacterized: $
The Amount Transferred (Recharacterization plus earnings or losses): $7100.
Reason for the Recharacterization: Income Limits
Why is the Amount Recharacterized blank? I thought maybe it was pulling from the 1099-R (which I don't have yet) so I put in a sample 1099-R in income but still it is blank. Any idea what I'm doing wrong? Thank you!
Edit: The instructions here https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-income/recharacterize-roth-ir... indicate I should get a screen for "Roth IRA Explanation Statement". I never saw that?
