Hello,
In 2024, I contributed the max to my Roth IRA, and later realized my income would have exceeded the limit. I then withdrew from the Roth, contributed to a Traditional, and did a conversion to Roth.
In hindsight I should have done a re-characterization, but my sequence of actions resulted in what looked like an excess contribution on paper even though the net amount that entered my IRA was within the limits.
I ended up paying some penalty when filing for tax year 2024 just so I can file on time. My question is, what is the best way to proceed now? My goal is to clear up any existing issues and get to a place where I can just do a backdoor roth conversion every year.
I'd prefer to just have a professional handle everything, would that be the TurboTax Live Full Service? Do I need to wait until the new tax season begins? I have not contributed anything in 2025 yet to any IRA and I want to make sure that I still max out my 2025 contributions.
