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Retirement tax questions
@fanfare , I think you are confusing this with a return of contribution. Recharacterizing a 2023 Roth contribution turns it into a reportable 2023 traditional IRA contribution which must be reported on the 2023 tax return. (A deductible traditional IRA contribution doesn't have to be reported, but if it's deductible, why not take advantage of the above-the-line deduction.)
‎July 26, 2024
5:30 AM