First year taking a roth distribution. TT is asking for "net contributions" and explains contributions-distributions-. ? recharactsrizations from 20 yrs ago incl. or -?

tt doesn't mention recharactsrizations on this page. However on another page it does. After putting in the total amount of rechar. pre 2003, the tax filing forms mentions that it is for 2022. umm very not enough details to understand what the program wants.

320

Expert Alumni

Apr 17, 2023 8:30:13 AM

If you recharacterized a traditional IRA as a Roth IRA contribution then this will be included in your net contribution amount. Conversions to Roth IRA will be entered in the next question.

Please see What's the difference between a conversion and a recharacterization? for additional information.

Why sign in to the Community?

First year taking a roth distribution. TT is asking for "net contributions" and explains contributions-distributions-. ? recharactsrizations from 20 yrs ago incl. or -?