TurboTax will ask for an explanation statement where it should be stated that the original $6,000 plus $50 earnings were recharacterized.Answer “ Yes” to the recharacterized question on the “ Did You Change Your Mind?” screen and enter the contribution amount (no earnings or losses).Enter the Roth contribution amount of $6,000.Answer “ No” to “ Is This a Repayment of a Retirement Distribution.Please follow these steps to enter the contribution to the Roth IRA and the recharacterization to traditional IRA: No, you will only enter the Roth contribution and then select that you recharacterized the contribution. Answer the questions about the basis and value.Answer " yes" to " Any nondeductible Contributions to your IRA?" since you had any nondeductible contributions in prior years.On the " Your 1099-R Entries" screen click " continue".Answer questions until you get to “ Tell us if you moved the money through a rollover or conversion” and choose “ I converted some or all of it to a Roth IRA”.Click "Continue" and enter the information from your 1099-R.Click on " Search" on the top right and type “ 1099-R”. To enter the 1099-R distribution/conversion: On the “ Choose Not to Deduct IRA Contributions” screen choose “ Yes, make part of my IRA contribution nondeductible” and enter the amount.If you had a basis in the Traditional IRA before then enter the amount.Answer the next questions until you get to “ Any Nondeductible Contributions to Your IRA?” and select “ Yes” since you had a nondeductible contributions before this tax year.Answer “ No” to the recharacterized question on the “ Did You Change Your Mind?” screen.
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