When do I pay taxes on earnings from a ROTH to Traditional re-characterization?

I did an excess contribution of $6000 to my ROTH IRA in 2019 - which I re-characterized (+earnings) to a Traditional IRA in February 2020. For the earnings that were re-characterized along with the excess contribution, do I have to pay tax on them in the 2019 return, 2020 return or when I get a distribution?

posted

Connect with an expert

1 Reply

When do I pay taxes on earnings from a ROTH to Traditional re-characterization?

Please read this TurboTax answer by dmertz which addresses your question.

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

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post