DanaB27
Expert Alumni

Retirement tax questions

This looks correct if you recharacterized $175 from Traditional IRA to Roth IRA. The difference between the amount listed on the worksheet and Form 1099-R is that you had gains moved to the Roth IRA when made the recharacterization. These gains have to be moved with the contribution since earnings are deemed to have been earned in the Roth IRA when you recharacterized the contribution. The contribution amount recharacterized is only $175. Therefore, your IRA contribution worksheet is correct.

 

@Hawkinsb 

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