Contribution for tax year 2024 made on April 10, 2025.
Filed extension for tax year 2024 on 04/15/2025
I am over the income threshold for both Regular and Roth IRA deductible
Recharacterized traditional IRA to Roth IRA. on 09/30/205 for the contribution that was made on 04/10/2025 for tax year 2024.
I have tried multiple suggestions and spoke with TurboTax but I keep getting multiple conflicting answers. I tried entering and selected recharacterization but it applies a 6% penalty on my $8000 nondeductible contribution. Please note I do not have a 1099-R because all of this happened in 2025. I expect Vanguard to issue one next year for 2025.
I need the steps how to enter this correctly so I do not get audited and show what I did is allowed. Thank you in advance for your help.
