Hello, 1st time using turbotax. Although its more expensive I am switching for 2025 taxes do to excellent community support.
January 2025 deposited $8000 (50 and older) to 2025 Roth IRA. Due to increase in wages my magi is too high and I will contact vanguard in January and have $8000 plus earnings re-characterized as a new IRA.
My concern, what steps must be taken to fill out taxes properly on turbotax.
It should be a simple process but the more I read the more confusion occurs, especially because I won't receive any tax forms 1099-? till next year regarding this re characterization. Do I need to make one up.
If anybody can guide me thru this process it would be greatly appreciated.
Thanks in advance for your time.
