- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
" I have been making traditional IRA contributions and recharacterizing (in the same year) to Roth the last few years. "
This is exactly as I surmised in my original reply above.
Recharacterization is not a backdoor Roth contribution and will generate a penalty for excess contribution when contribution is disallowed.
However , Code 2 is not a recharacterization ; you are not entering correctly into TurboTax.
‎April 23, 2025
4:36 PM
9,785 Views