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How to report a recharacterization of Roth IRA to a nondeductible traditional IRA in TurboTax?
I had originally made a excess contribution to a Roth IRA in 2020, then had to recharacterize it into a traditional nondeductible IRA in 2021. How do I report recharacterization of Roth IRA to traditional IRA plus gains/losses in TurboTax, in order to not pay the penalty? Will I need to do anything for the 2021 tax year?
March 15, 2021
4:48 PM