Retirement tax questions


@sarahung0816 wrote:

Thank you. As I already filed my tax for this year, how can or which boxes should I check if I filed the techaracterization correctly?


That would depend if you choose to deduct the now Traditional IRA contribution (if eligible for a deduction) or make it a non-deductible contribution.

 

A deductible contribution would  be in the 1040 Schedule 1 line 19 or the non deductible contribution on line 1 of a 8606 form.

 

There would also be a recharacterization explanation statement as part of your tax return and a IRA Contribution Worksheet that shows it.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**