Hey,
For Year 2022 I was over the limit (didnt realize until mid year)
1) Recharacterized Roth IRA (~$1.4k) fund into Traditional IRA
2) Converted ~1.4k back to Roth IRA
3) Contibuted additional 4.5k to Traditional
4) Convterted 4.5k into Roth IRA
I believe this is the "Backdoor IRA" step that I did above (minus my recharactizeation which was a mistake to begin with).
I got 2 1099-R forms
Roth 1099-R has this
-Gross distribution $1,428.80
-Taxable amount $0.00
-Distribution Code : N
Traditional 1099-R
- Gross distribution $5,924.16
- Taxable amount $5,924.16
- Taxable amount not determined (X)
- Total distribution (X)
- Distribution code(s) 2
IRA/SEP/SIMPLE (X)
I imported both 1099-R and then under Deduction and Credit I chose both "I made contribution to Traditional and Roth"
For Traditional I said $5924 and made sure I said it was all rolled over.
For Roth I said I contributed $1.4k which I recharitized, however it thinks I over contributed because I believe its doing $5924+$1429 > 6000, however 5924 already includes the 1429, how do I fix this?
