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Incorrect IRA contribution amount in 1040 4a with recharacterization of Roth IRA

I contributed $6000 early 2020 to my Roth IRA. Later in 2020, I recharaterized this $6000 + $800 earning to traditional IRA then converted it back to Roth IRA.  I received two 1099-R forms for 2020. One is for the recharaterization and the other is for the conversion. I entered the information of both 1099-R in Turbotax. Finally, this is what I have in the 8606 form:

Line 16: $6800

Line 17: $6000

Line 18 taxable amount: $800.

 

The number in 8606 form seems right. However, the amount of IRA contributions  in 1040 4a is doubled to  $12000, not $6000.  Is this due to that I entered the two 1099-R in TurboTax? How can I correct the amount in 1040 4a to $6000? Thanks.

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Accepted Solutions

Incorrect IRA contribution amount in 1040 4a with recharacterization of Roth IRA

4a is not your contributions.

 

4a is your distributions.

If you look at it that way you will see it is correct.

View solution in original post

2 Replies

Incorrect IRA contribution amount in 1040 4a with recharacterization of Roth IRA

4a is not your contributions.

 

4a is your distributions.

If you look at it that way you will see it is correct.

Incorrect IRA contribution amount in 1040 4a with recharacterization of Roth IRA

@fanfare Got it. Thank you very much!

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