1) Am I correct that for my 2021 Turbotax explanation statement, I'm writing: "The original $6000 contribution plus $500 earnings were recharacterized." I'm writing this because, as you said, the entire IRA (not individual funds in the IRA) had an increase in value of $500 attributed to the $6,000 contribution.
2) To clarify, this is for a 2021 excess ROTH contribution recharacterized in March 2022 but before I have sent in my 2021 taxes. Does this change how I report the recharacterization and earnings?
3) Am I reporting on my 2021 taxes that I converted this $6500 from the traditional IRA into a backdoor ROTH IRA in March 2022? If so, how do I note this on my 2021 tax forms? Or do I enter the information about my backdoor ROTH IRA conversion on my 2022 taxes?
Thanks @macuser_22 and @dmertz !
