Can we enter our 2018 traditional IRA contributions as ROTH contributions if we'll recharacterize them as such before 4/15/19? Our 2018 AGI is under the ROTH threshold.

Ann-K — Sat, 01 Jun 2019 15:27:52 GMT

No. You enter the Traditional IRA contributions as Tradi...

macuser_22 — Sat, 01 Jun 2019 15:27:52 GMT

No. You enter the Traditional IRA contributions as Traditional IRA contributions and say in the interview that you "switched" to a Roth which is a recharacterization. Enter an explanation statement. The IRA custodian will report the recharacterization to the IRS and you must also report it.

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

topic Can we enter our 2018 traditional IRA contributions as ROTH contributions if we'll recharacterize them as such before 4/15/19? Our 2018 AGI is under the ROTH threshold. in Retirement tax questions

Can we enter our 2018 traditional IRA contributions as ROTH contributions if we'll recharacterize them as such before 4/15/19? Our 2018 AGI is under the ROTH threshold.

No. You enter the Traditional IRA contributions as Tradi...