I just successfully completed my re-characterization of Roth IRA to traditional IRA. I contributed $6000 to Roth IRA. The re-characterization took those $6000 + gains and put them in Traditional IRA.

My question is that when I fill out form 8606 then should I put $6000 or should I put $6000 + gains.

1 Answer 1


The recharacterization makes it so that, for tax purposes, it is treated as if you never contributed to Roth IRA, and you contributed $6000 to a Traditional IRA on the original date you made the contribution to Roth IRA. So, assuming you do not deduct your Traditional IRA contribution, you need to report a $6000 non-deductible Traditional IRA contribution on Form 8606 Part I. There is no difference between "gains" between contribution and recharacterization and "gains" after recharacterization -- they are both just treated as gains inside the Traditional IRA after you contributed, and do not need to be reported now.

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