Roth IR re-characterization getting error on worksheet

dfriedel · ‎April 13, 2020

I had to re-characterize Roth IRA contributions, which I did through my financial advisor. Turbo tax said I had to be sure to include any gain/loss. Now when I fill in the re-characterization amount, it says it can't be higher than line 23 (the original contribution amount). How do I fix this error?

MarilynG1 · ‎April 13, 2020

The amount of the original Roth contribution must be entered - not any earnings or losses.

Then TurboTax will ask for an explanation statement where it should be stated that the original $xxx.xx plus $xxx.xx earnings (or loss) were recharacterized.

Click this link for more info on How to Enter a Roth Recharacterization.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"