ThomasM125
Expert Alumni

After you file

It is possible you actually recharacterized only $6,000 of your ROTH IRA to the traditional IRA. The earnings of $1,002 may have been returned to you and not rolled into your traditional IRA. In that case, you would not have a penalty for excess contribution in 2022. I suggest you prepare an amended 2022 return and when asked how much you recharacterized to your ROTH IRA, enter the $6,000 if that is what happened and if you find your tax was unchanged then you will not have an issue.

 

[Edited 3/26/24 @ 10:35 AM PST] @rcom2023

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