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Retirement tax questions
No. You enter the Traditional IRA contributions as Traditional IRA contributions and say in the interview that you "switched" to a Roth which is a recharacterization. Enter an explanation statement. The IRA custodian will report the recharacterization to the IRS and you must also report it.
Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.
**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.**
June 1, 2019
8:27 AM