How do you recharacterize traditional IRA to Roth?

[carolshowley]

How do I enter the info to recharacterize from traditional IRA to Roth?

[LudwigVan_fan]

Please be more specific as to what you mean by re characterize from traditional to Roth?

Are you converting the whole account?

Transferring money?

[pagola123]

recharacterizing my entire 2016 traditional ira contribution to a roth ira

[LudwigVan_fan]

If you move your entire account, you will pay taxes on the money when it is moved; so be aware of that.

The easiest way would be to contact the trustee and have them move the money from the traditional to a Roth.

https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-rollovers-and-roth-convers...

How do I convert my traditional IRA to a Roth IRA?

You can convert your traditional IRA to a Roth IRA by:

• Rollover – You receive a distribution from a traditional IRA and contribute it to a Roth IRA within 60 days after the distribution (the distribution check is payable to you);
• Trustee-to-trustee transfer – You tell the financial institution holding your traditional IRA assets to transfer an amount directly to the trustee of your Roth IRA at a different financial institution (the distributing trustee may achieve this by issuing you a check payable to the new trustee);
• Same trustee transfer – If your traditional and Roth IRAs are maintained at the same financial institution, you can tell the trustee to transfer an amount from your traditional IRA to your Roth IRA.

A conversion to a Roth IRA results in taxation of any untaxed amounts in the traditional IRA. The conversion is reported on Form 8606, Nondeductible IRAs. See Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), for more information.

https://www.irs.gov/publications/p590a/ch01.html

[Jerry04]

I made a partial transfer from my IRA account to a Roth IRA account

[Jerry04]

I made a Partial transfer of money from my IRA account to my Roth IRA