Sika
New Member

Retirement tax questions

Thank you so much. 

So when asked about total contributions to traditional IRA account, the correct answer is 'zero' then since I technically did not contribute to the traditional IRA account but 'recharacterized' funds to that account only to be transferred back to the roth IRA account. Is this correct? 

I tried the alternative by putting the amount I 'received' from the recharacterized roth account and my contribution doubled requiring me to pay 6% tax on the excess further down the line. So it seems because of my route to the backdoor roth, my traditional IRA contribution is supposed to be 'zero'. right? Thanks