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gatdallas
New Member

How to recharacterize a Roth IRA back to a non deductible Traditional IRA for 2018?

I put $6500 into a traditional IRA last January and then converted to a Roth IRA but found out that based on income I couldn't do that conversion. I tried to do a recharacteration back to the traditional non-deductible IRA but the tax laws won't allow for this and now I am going to get hit with a penalty. How do I get this out of the Roth IRA and back to the non-deductible traditional IRA?"
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1 Reply
r3al
Level 1

How to recharacterize a Roth IRA back to a non deductible Traditional IRA for 2018?

You may not really have a penalty.  Please check that you entered the data for the traditional IRA to Roth IRA conversion in the Wages  & Income portion of Turbo Tax and not under the Deductions & Credits section.  I, too. experienced such a penalty when I enter my traditional IRA to Roth conversion under both the Wages & Income section and under the Deductions & Credits section.  Removing the data from the Deductions & Credits solved the problem and resulted in a proper conclusion with no penalty.  

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