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Retirement tax questions
A recharacterization is not a conversion. A recharacterization means you contributed to one type of IRA but changed your mind and decided you really wanted to contribute to another type of IRA. This is a do over.
A conversion means you contributed after tax money to a traditional IRA and then moved (converted) that money into a Roth (two steps–contribution and conversion).
You also made a $6,000 contribution for the 2020 tax year so you should say you made a nondeductible contribution for 2020 or prior years and enter $6,000.
Follow these steps: How do I enter a backdoor Roth IRA conversion?
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‎February 20, 2022
4:57 PM
3,845 Views