Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 6, 2025 3:10:43 PM

I made $7000 in Roth IRA 2024 & in Mar 2025 i recharacterized $7255 ( $7000 +$255 gain) when i try to file tax it says to remove $255 as it as excess contribution?

0 2 1206
2 Replies
Level 15
Apr 6, 2025 3:15:18 PM

Only enter it from the 1099R.  Do not enter it in Deductions as a new contribution.  

New Member
Apr 6, 2025 3:50:02 PM

thanks . I made the amount recharacterized as $7000 in the deduction and in the justification form i made it clear that amt recharacterized as $7000 and amount transferred as $7255 ( $7000 + $255 gain) which took out the " excess contribution" error. Hope its right. thanks much