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I re-characterized 2020 Roth IRA contributions to Traditional IRA (submitted form 8606). I want to know how I can reverse that and contribute those funds towards YR 2022
I read somewhere that a statement explaining re-characterization need to be attached, which I did not when I filed taxes for 2020 but just filled Form 8606. I need to use those funds currently in Traditional IRA to contribute towards 2022 Roth IRA without taxation as I did not get tax advantage in 2020 due to re-characterization.
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‎January 10, 2023
10:04 AM