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Retirement tax questions
Thank you. Additional question. $3000 originally went to Roth then was rechristened to a Traditional IRA. When it came over to the IRA it was about $15 less than the original contribution, assuming there was a loss during the time between original contribution and recharacterization. Which number do you use for line 1, the original $3000 or the new number ($3000-$15)? If you also then contributed additional $1000 directly to the traditional, would you add both to come up with line 1? Also what about the reverse, if characterized Roth comes back to IRA with earnings do the earnings get reported in line 1 or just whatever the original Roth. Contribution was?
‎January 11, 2024
8:32 AM