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Retirement tax questions
"In 2024, I contributed the full allowed amount to my Traditional IRA ($7,000)."
making your own max contribution in addition to a recharacterized amount means you have exceeded your contribution limits.
It's not clear where the $474 comes from (my guess is custodian error). probably you need a corrected 1099-R
Is your IRA at a bank or credit union?
March 22, 2025
2:26 PM