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engel97
New Member

Reporting a Roth IRA in deductions & credit -> Retirement and Investments ->Traditional and Roth IRA Contribution

I over contributed on Roth IRA by $450 in 2024, I have requested my plan admin to recharacterize it and move it and to my Traditional IRA. on 3/7/2025. In the Roth contribution amt being asked by TurboTax, do I specify reduced amount ($7550) or the original $8000 in this year's 2025 tax filing?
Or do I specify $8000 and then enter $450 in the amt that I recharacterized in TurboTax?

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1 Reply
AnnetteB6
Employee Tax Expert

Reporting a Roth IRA in deductions & credit -> Retirement and Investments ->Traditional and Roth IRA Contribution

You should enter the full contribution that you made ($8000), and then indicate what you did with the excess amount that TurboTax will calculate based on your other tax return information.  

 

For reference, the following TurboTax help article will take you through the steps to report this in TurboTax:

 

How do I re-characterize a Roth IRA contribution as a traditional IRA contribution in TurboTax?
 

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