I made an excess Roth IRA contribution in 2019. In February 2020, I requested my financial institution recharacterize the entire contribution as a nondeductible traditional IRA contribution. When I called the IRS to ask how to report this, I was directed to form 8606 but am confused on how to continue. The appropriate section says: "You made a contribution to a Roth IRA and later recharacterized part or all of it in a trustee-to-trustee transfer to a traditional IRA. Report the nondeductible traditional IRA portion of
the recharacterized contribution, if any, on Form 8606, Part I. Don’t report the Roth IRA contribution (whether or not you recharacterized all or part of it) on Form 8606. Attach a statement to your return explaining the recharacterization. If the recharacterization occurred in 2019, include the amount transferred from the Roth IRA on Form 1040 or 1040-SR, line 4a; or Form 1040-NR, line 16a. If the recharacterization occurred in 2020, report the amount transferred only in the attached statement, and not on your 2019 or 2020 tax return."
I can't tell from this: do I report the recharacterization as a nondeductible traditional IRA contribution when I enter in my IRA contributions OR do I just include the statement saying that the recharacterization happened and leave the IRA contribution section blank?
