I have a complicated Roth IRA conversion and recharacterization scenario for the current tax year. I have been maxing out Roth IRAs for my spouse and I over last few years without issue though anticipated a significant change in income and converted a traditional IRA containing only rollover contributions from previous pre-tax 401(K) to Roth IRA early in 2021. This was followed by continued Roth IRA contributions ($12,000 total) using a separate account custodian through the remainder of the year and I completed maximal contributions for myself with one final contribution in early January 2022 ($6000 in Roth only).
However, this is when I realized our mAGI was in the phase-out range for direct Roth IRA contributions and made remaining contributions to spouse's traditional IRA for 2021 in February and March 2022 (reaching total of roughly $5200 in Roth and $800 in traditional). Using final TurboTax calculations for excess Roth contributions, I recharacterized the Roth account proportions to traditional IRAs and will now convert both the $800 and all recharacterized amounts back to Roth ideally for the 2021 tax year assuming this could still be claimed as such. I am having difficulty figuring out the basis and year-end balances as well as appropriate reporting and entering in TurboTax given these several maneuvers and multiple Roth conversions. All guides suggest treating contribution as originally done in second IRA account though do not handle subsequent conversions on these recharacterizations in a clean manner.
