Retirement tax questions

Thank you again for quick response.

I just realized that my 1099R with distribution code 2 and IRA/SEP/SIMPLE marked as X has non-zero taxable amount. This 1099R is for conversion (Traditional to Roth conversion) and I think the taxable amount should be 0. This is fundamentally why turbotax makes me pay double taxes.

 

The confusion part is that this 1099R (marked 2022) is for 2021 contribution (Roth to Tranditional (recharacterization) and back to Roth (conversion)). However, the recharacterization and conversion for this 2021 was done in 2022. Thus, the forms marked as 2022 version.

Also, in turbotax, to fill out 8606 form, I had to say

* Traditional IRA and Roth IRA section: I need to check both Traditional and Roth IRA

* Tell use how much you contributed: do I need to put the recharacterized amount here?

Since the recharacterization was for 2021, I also contributed Roth for 2022. I expected that my MAGI is not going to be over the limit.

Then, the turbotax think I contributed both recharacterized contribution (again it was for 2021) and roth ira contribution (for 2022). And, it tell me that I contributed more than my combined limit for 2022.

I don't know how to deal/split this two event. Thank you!