dmertz
Level 15

Retirement tax questions

"So step 8 should be $8000 and Step 9 should be $8698.73,  Is that a correct assumption? Which form will this generate in Turbo Tax? Is that 5498 or something else?"

 

Yes.

 

"Then, I'll also complete "Step 1: Enter the Non-Deductible Contribution to a Traditional IRA" from the following:"

 

No.  Do not separately enter a traditional IRA contribution.  Indicating that you recharacterized the Roth IRA contribution already accomplishes the traditional IRA contribution entry.