So I just want to be clear that I have the same issue. This is for our Son. He claimed on his tax's that he took a 5000 Roth IRA Contribution in 2023, but now he is getting married, and buying a house. He has deceided not to put that money in his Roth this year after all. Does he need to amend his taxes? If I am reading this correctly the answer is no. But he should submit a Recharacterization explanation; to indicate that he did not contribute any IRA contributions for 2023. By submitting this does that correct his cost basis on the Roth IRA? Thanks so much for any help you can provide!
Linda Schmit
