Retirement tax questions

I apologize, I misread the date of the rollover to the 401k and therefore assumed wrongly the rollover was before the Roth contribution that you are trying to recharacterize.

I agree with Opus 17  that the timing seemed to make your situation complicated at first thought since you made the contribution before the rollover to the 401k and, as Opus 17 wonderfully explained, normally when you have both a nondeductible basis and pre-tax funds in the IRA  you can't just say, "I'm only withdrawing the non-deductible part" or "I'm only withdrawing the after-tax part."

But after reviewing all the facts and the great input from dmertz, I agree with dmertz's information and Opus 17 final conclusion. You will be good to go with the recharacterization and will have the basis shown on line 14 of Form 8606 that you carry to 2022.

Next year on your 2022 tax return you will enter your 1099-R from the conversion and your basis like this:

1. Click "Federal Taxes" on the top and select "Wages & Income"
2. Click "I'll choose what to work on"
3. Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)" 
4. Answer "Yes" to the question "Did You Have Any of These Types of Income?"
5. Click "I'll Type it Myself"
6. Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
7. Click "Continue" and enter the information from your 1099-R
8. Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
9. Then choose “I did a combination of rolling over, converting, or cashing out money.” and enter the amount next to "Amount converted to a Roth IRA account"
10. On the "Your 1099-R Entries" screen click "continue"
11. Answer "yes" to "Any nondeductible Contribution to your IRA?"
12. Enter the basis from your 2021 Form 8606 line 14 and click "Continue"
13. Enter the value of all traditional, SEP, and SIMPLE IRAs

I also apologize for any confusion. 

[Edited 3/1/2022 | 2:10pm PST]

@techie353