Fidelity shows a different calculation method. They would say that the starting balace of 17k and ending balance of 20k, with contribution of 7k means there is a loss not a gain.
They show ($1167.67) loss so $5833.33 to be transfered.
It's at their website: https://www.fidelity.com/retirement-ira/recharacterize
How can there be a gain in above example, unless the ending balance is after deducting the $7k contribution?
