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Retirement tax questions
So you want to recharacterize $7000 from a Roth IRA (currently at Robinhood) to a traditional IRA (also at Robinhood?) And Robin can't provide the NIA since since the contribution was made when you were at another institution.
It looks like the worksheet would be:
Line 1 $7000
Line 2 $15,000
Line 3 $26,000
Line 4 $11,000
Line 5 0.423
Line 6 $2961
Line 7 $9961
This calculation probably overstates the actual earnings attributed to the contribution from 2024, due to the inclusion of the $7000 from 2025, but it is the calculation you are required to use. (The instructions for line 3 say to include any other contributions made while the contribution to be recharcterized was in the account.)
@dmertz any additional comments?
‎April 25, 2025
9:28 AM