I have been trying to get a straight answer from both my custodian and a few other finance forums, including one that supposedly for taxes - "your question is too advanced; please contact one of our recommended specialists (for a fee 
). Hopefully my latest conversation with my brokerage will get me to talk to someone in charge of processing the 1099-R & 5498 forms ...
Anyway, there seem to be 8 different values that are pertinent in all this:
[A] the *nominal* amount to be recharacterized
the "net income attributable" for the recharacterization
[C] the *net* amount to be recharacterized
[D] 1099-R form for the Roth IRA, code N, gross distribution (line 1)
[E] ibid, taxable amount (line 2a)
[F] 5498 form for the traditional IRA, recharacterized contributions (line 4)
[G] the actual amount that the custodian transfers from the Roth IRA to the traditional IRA
[H] the amount that is to be subtracted from the amount that has been converted to the Roth (i.e., on the 1099-R form for the traditional IRA, code 2, gross distribution and taxable income, which are the same) for the 8606 form
So my understanding or hunch is that:
Even though there would be a recharacterized Roth conversion, the 5498 form says "contributions", but it is regarded as recharacterized conversions.
B is a function of A - i.e., the value that is used in the calculation of is based on [A] and the balance of the Roth IRA at the time of the original conversion and the recharacterization; typically, this is a calculation that the custodian will perform, although it is possible for the custodian to allow the taxpeyer calculate this (at least my custodian allows this)
C = A + B
D = A
E = 0
F = C
G = F = C
H = D = A
So I would just like to verify that my assessment is correct, or if not, what these values should be. What I am trying to figure out is the amount of [A] or [C] to instruct my custodian to recharacterize to end up with a desired value of [H].
). Hopefully my latest conversation with my brokerage will get me to talk to someone in charge of processing the 1099-R & 5498 forms ...Anyway, there seem to be 8 different values that are pertinent in all this:
[A] the *nominal* amount to be recharacterized
the "net income attributable" for the recharacterization
[C] the *net* amount to be recharacterized
[D] 1099-R form for the Roth IRA, code N, gross distribution (line 1)
[E] ibid, taxable amount (line 2a)
[F] 5498 form for the traditional IRA, recharacterized contributions (line 4)
[G] the actual amount that the custodian transfers from the Roth IRA to the traditional IRA
[H] the amount that is to be subtracted from the amount that has been converted to the Roth (i.e., on the 1099-R form for the traditional IRA, code 2, gross distribution and taxable income, which are the same) for the 8606 form
So my understanding or hunch is that:
Even though there would be a recharacterized Roth conversion, the 5498 form says "contributions", but it is regarded as recharacterized conversions.
B is a function of A - i.e., the value that is used in the calculation of is based on [A] and the balance of the Roth IRA at the time of the original conversion and the recharacterization; typically, this is a calculation that the custodian will perform, although it is possible for the custodian to allow the taxpeyer calculate this (at least my custodian allows this)
C = A + B
D = A
E = 0
F = C
G = F = C
H = D = A
So I would just like to verify that my assessment is correct, or if not, what these values should be. What I am trying to figure out is the amount of [A] or [C] to instruct my custodian to recharacterize to end up with a desired value of [H].
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