Hi
My wife recharacterized $8K of her 2024 IRA to a Roth IRA in Nov. 2024. As a result, about $10,000 was moved from her traditional IRA into her Roth IRA. We did receive an 1099-R, with box 1 showing $10K, box 2a is 0 and 2b is unchecked. After I entered 1099-R in the TurboTax Deluxe (desktop), I received this message: "Your Roth Contribution Was too high" , flagging the extra $2000 as the "excess contribution". I'm not sure why I'm getting this message considering that the recharacterization in not a taxable event. Any help is appreciated.
