I made horrible mistake last year due to my carelessness:
The SAME 6K of contribution was moved around:
IRA--->RothIRA-->IRA-->RothIRA.
1. Contributed to traditional IRA 6k (Jan)
2. Backdoor conversion to Roth IRA. Yay. (since I was beyond Roth income limit) (Jan)
3. FORGOT I did that! Scatterbrained.
4. Surprised to find that 6k in my Roth IRA & thought I made a DIRECT contribution into Roth. Freaked out due to income limit. Recharacterized same 6K to traditional IRA (Mar)
5. Did a second conversion of that same 6K money from IRA to Roth (Mar)
Now I have 2 conversions and 1 rechacterization on my record: 1099Rs show 6K x 3
Big Problems now:
TurboTax says:
-"You have over contributed to your IRA by $6000. You now owe a penalty for over contribution"
-The 2 conversions seemed to have only logged 1 conversions worth of taxation to be reported on 8606. I believe, though I am not sure
Any advice??
