Level 15

Retirement tax questions

Are you sure that your contribution for 2019 was $6,500 and not $7,000?  $6,500 was the limit for 2018 for someone over age 50; the limit for 2019 was $7,000.  Only a contribution made for 2019 was eligible to be recharacterized in December 2019.


The TurboTax page that asks you to "Tell Us How Much You Transferred" is badly named.  When TurboTax asks this, you must enter the amount recharacterized, $6,500, not the amount transferred.  Go back and correct that entry.

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