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Roth IRA recharacterization to traditional IRA
I started a new Roth IRA in January 2020 and made regular contributions 2x a month throughout 2020 for a total of $6000 dollars. I realized in February of 2021 that my AGI was too high. I then immediately Recharacterized my Roth IRA to a Traditional IRA. I later rolled the same funds back into my Roth IRA in February. I had $1301.08 in earnings or $7301.08 total that I initially recharacterized from the Roth IRA to the traditional IRA. How do I use the software to report my recharacterization and "earnings" correctly?
March 19, 2021
2:46 PM