I have a very complicated situation here. In 2021 I made higher than the MAGI for roth IRA without knowing about this rule. So I recharacterized the over contribution to traditional IRA in March of 2022 for $3860 (for the year 2021) and then converted back to Roth IRA a few days later in the amount of $3840 as the market was going down. Unfortunately I already put in my Roth IRA contribution for 2022 before I realized I am over the MAGI again. So I also had to recharacterize my Roth IRA contribution in 2022 as well. On July, I requested another recharacterization in the amount of $6000 just to clean things up. Market was doing horrible so the actual amount they pulled out was $4660. Then I did a Roth IRA conversion about 2 weeks later in the amount of $4980 (the market was doing better at that point).
This year, I received 2 x 1099R. One for my traditional IRA and one for my Roth IRA. I entered in all the 1099R in the income section and it came up saying that i had 17k income. But this is all numbers switching back and forth!
Any help to walk me through how to properly enter all the information so I file my taxes correctly would be greatly appreciated.
Thank you very very much!
