When I realized my MAGI made me ineligible for a Roth, I immediately recharacterized my 2024 Roth contributions + gains to a traditional IRA in, then converted to Roth IRA to complete a "backdoor Roth conversion." The recharacterization & conversion all happened in Jan/Feb 2025. My question is - am I still going to incur a tax penalty for originally being in excess $6912 for my Roth, or did the recharacterization solve that issue? How do I enter this on turbo tax?
