I used after-tax money to contribute to a traditional IRA and then immediately recharacterized that money to a Roth IRA). Turbotax said "based on your entry in box 7 on your 1099-R, you don't need to pay any extra taxes on the money taken out of this account." However, turbotax also increased the amount I owed on my taxes by $2000.
Questions:
1. how can box 2a be 6000 if the broker also noted "taxable amount not determined"?
2. How can I note the contribution to my traditional IRA was with post-tax money?
Box 1: 6000
Box 2a: 6000
Box 2b: x (taxable amount not determined)
Box 4: 0
Box 7: 02
IRA/SEP/SIMPLE: x
box 12: 0
Any help is appreciated. Thank you.
