My company changed 401(k) providers (due to merger). I received two checks from my two 401(k) accounts in March. I made the mistake of depositing the 401(k) check directly into my Roth IRA. I flinched and then deposited the Roth 401(k) into the Roth IRA. I did not know I could change my first deposit and now I am trying to figure out how to report the conversion? recharacterization? The 1099Rs use the correct codes but I didnt deposit them correctly. I know I have to pay taxes on this but I have no idea where to start. I have looked through previous posts but none of them quite cover this. There are similar stories but those were smart enough to put the checks in the correct accounts before recharacterizing the money. I looked up Form 8606 and went through the contributions section for the Roth IRA deposits. It says I can just remove money from the Roth to avoid paying taxes and that doesnt seem correct. Any help would be appreciated.
