I opened a Roth IRA last month and contributed $1000 to it for 2020. Then I decided it would be better if that contribution was made into a Traditional IRA to be deductible for 2020. I arranged with my bank to recharacterize the entire amount in the Roth over into the traditional but the value had gone down to $950. In TT, I get to the screen that ask "Tell us How much you Transferred". Do I tell it the original amount, $1000 or the reduced amount $950? This was a brand new Roth acct so there was nothing in it before, and there will be nothing in it (for now) after the recharacterization.
Thanks!
