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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.**
‎July 13, 2020
4:00 PM