@choosybean wrote:
I see so if I contributed 7k to Roth 3 month ago, I recharacterize 7k to traditional. I do not need to do anything about the gains/loss that 7K had?
Other than the explanation statement - no.
The bank should have transferred less then the 7K to the other IRA if a loss, and more then the 7K if a gain, to account for the gain/loss, but *you* recharactorized the 7K.
**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.**
