Recharacterization Reporting on Form 1040
If one converted a $10,000 TIRA to a Roth in 2008 and later in 2008 recharacterized that ROTH at a put-back value of $5,000, what amount does one enter for line 15a on IRS Form 1040? The instructions seem to indicate that I would include the $10,000 TIRA conversion plus the put back value of $5,000 for a total value on line 15a of $15,000 and a -0- on line 15b.
Permalink Submitted by Alan Spross on Fri, 2009-03-20 22:42
That is correct for line 15a and 15b.
However, you should also attach an explanatory statement with your return explaining the two transactions.