recharacterization: the original amount to the first IRA you report as contribution to the second IRA, earnings move but that is ignored.
HOW TO REPORT.
Tell TurboTax you made a Traditional IRA contribution. It is that simple.
If you plan to convert later, you want to make your contribution non-deductible.
Form 8606 will be attached. If it is already non-deductible due to income, that's automatic
Treat the contribution as having been made to the second IRA on the date that it was actually made to the first IRA.
Forget all the baloney advice you get from the EXPERTS.
@bmwsabina
