Hello! I've gone through the steps for backdoor Roth IRA Conversion, and when I click "continue" after seeing the screen showing my 1099R, I get pushed into sharing an explanation for a recharacterization. From what I've read, a conversion is NOT a recharacterization.. can someone help me? Below are the steps I take:
1)Taken disaster distribution before 2022? > No
2) Any Nondeductible contributions to your IRA? > No
3) Tell us value of your traditional IRA > enter from fair market value on form 5498 for IRA
4) Explain Your recharacterization...
This is where I'm at a loss of how to proceed given from what I understand I did not do a recharacterization.
Some additional details:
1)Per the steps listed in the link above for entering backdoor roth ira conversion, I've checked the results in the preview of my 1040 (4b taxable amount is $0, and IRA deduction is 0).
2) I think originally I'd said Yes for nondeductivel contribution (step 2) above, but I continued to receive a message saying my income was too high to deduct an IRA contribution, hence me going back to make changes, bringing me down this new path above..
