In 2024 I established a TIRA and contributed $7,000.00. A few weeks later realized that I actually wanted to establish and contribute to a Roth IRA because a TIRA is non-deductible for me at my income level. I recharacterized the full amount and received a 1099-R from my brokerage firm that has a gross distribution amount in box 1 of $7163.53. Box 2a is marked $0.00 and 2b is marked "Total Distribution". The distribution code in box 7 is "N". The remainder of the form is blank. I believe that I owe taxes on the realized gain amount of $163.53 but turbo tax does not seem to be accounting for this in the distribution. How do I properly compute the tax?
