HI all - Still trying to sort out this mess of recharacterizing Roth IRA to traditional for being over income limits as a couple.
So, I invested $6000 into a roth and recharacterized it as a traditional. The amount that went into the traditional IRA was 5903.99 on December 31, 2021
My husband put $7000 into a Roth IRA, but moving of the funds into the Traditional IRA were not completed by Schwab until 1/10/2022. $8175.17 was put into the Traditional IRA.
I got a 1099R and my husband did not because the recharacterization was not completed until 2022. Schwab said we would get a 1099R for him in 2023 for 2022.
So I am trying to fill out the section in Turbo Tax for the IRA contributions... How do I fill out those numbers?
My Roth IRA $6000 Traditional IRA $5903.99??
Husband Roth IRA $7000.... but how do I handle his $ 8175.17 since this happened in 2022, but before tax returns are due for 2021.
I am so confused on what to do. Can anyone help me please. Thanks!!!!
