Hello,
I contributed to my Traditional IRA for 2019 in February 2020, and a few days later had it recharacterized to my Roth IRA. My husband did the same thing. I am doing my taxes now, and Turbotax is giving me a message that our Modified AGI is above the current Roth limit and that our recharacterizations are excess contributions.
Information and knowedge is very much appreciated!
If the Forms 1099-R have code N or code R in box 7, you mistakenly performed recharacterizations instead of Roth conversions and the indication that you are receiving from TurboTax is correct and to avoid having excess contributions you'll need to resolve this with your financial institution.
As dmertz mentions, if you are able to make the adjustments, the following instructions will assist you to report a conversion, entering a BackDoor Roth is a several step process.
Please see this link for assistance and additional details, depending on the version of TurboTax you are using: Turbo Tax-Entering a Back Door Roth.
[Edited KarenM90, 4.11.2020 8:04 pm pst]