I contributed $7950 to ROTH IRA in 2024 and didn't have a Traditional IRA. Then, when doing taxes, found out I made too much to contribute. I opened a traditional IRA account in March 2025 and did a recharacterization from ROTH to Traditional of $ 7000 which netted to $ 6896.38 all before filing taxes for 2024 data. How do I enter this? I thought I answered everything correct on the ROTH IRA portion but, in the end when reviewing, I have an error. It has line 25 as $ 6896 but says that can't be larger than line 24 (Roth contributions) which it has $950.00. I did not enter $950 anywhere. It calculated it based on my answers.
Also, do I need to enter the 6896.38 as a contribution to the Traditional IRA or wait until 2025 taxes to do that since the recharacterization was done in March 2025? I plan to do a backdoor Roth when Fidelity finishes the transfer (hopefully tomorrow).
I guess I'm missing something here and would appreciate guidance. Thank you
