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How to correctly report recharacterization from Roth to traditional IRA (due to excess contributions). Amendment
My situation:
2020: Due to income limits, I overcontributed the entire $6K back in early 2020. Since then, it has grown to ~$7.3K. I have already recharacterized the entire amount with my brokerage. I have also already filed the taxes, so I need to amend them.
I am at the page: "Enter your Roth IRA contributions" Technically, my contributions were $6K, but if I put $6K in, it says I need to pay a penalty on the $1.3K earnings since it is technically "excess". If I put the entire contribution + earnings $7.3K, I don't run into the error anymore, but is that correct? It clearly says earnings. Otherwise, I'm not sure where else to put this info?
Also, if I am considering doing a backdoor roth, what steps do I need to do after to do this in TurboTax?