Please help with entering a nondeductible traditional IRA and recharacterization to Roth IRA with the following dates

[user17598876232]

Contribution for tax year 2024 made on April 10, 2025.

Filed extension for tax year 2024 on 04/15/2025

I am over the income threshold for both Regular and Roth IRA deductible

Recharacterized traditional IRA to Roth IRA.  on 09/30/205 for the contribution that was made on 04/10/2025 for tax year 2024.

I have tried multiple suggestions and spoke with TurboTax but I keep getting multiple conflicting answers.  I tried entering and selected recharacterization but it applies a 6% penalty on my $8000 nondeductible contribution.  Please note I do not have a 1099-R because all of this happened in 2025.  I expect Vanguard to issue one next year for 2025.  

I need the steps how to enter this correctly so I do not get audited and show what I did is allowed.  Thank you in advance for your help.

[fanfare]

What you did, assuming the custodian followed through, is not allowed.

For recharacterization, you must use a trustee-to-trustee transfer before the due date April 15,2025 ( or Oct 15, 2025 if 1040 was timely filed or extended).

You missed the deadline by two weeks.

It's not clear what action the custodian actually took based on your instructions.

@user17598876232 

[fanfare]

What you did was converted Traditional IRA to Roth IRA.

There is no deadline for that action.

For 2024 tax return, report a non-deductible Traditional contribution of $8,000 on 2024 Form 8606. That's all.

Report conversion on your 2025 tax return.

@user17598876232 

[baldietax]

can you confirm if you are eligible to make the Roth contribution (via recharacterization) as you stated "I am over the income threshold for both Regular and Roth IRA deductible" - deductible contributions don't apply to Roths, the income limit applies to the ability to contribute if that's what you're referring to for the Roth, which would result in an excess contribution with 6% penalty until it's rectified

[fanfare]

It's important to use the correct terminology for IRA activity.

[user17598876232]

yes, i am eligible as long as i make a non deductible Traditional iRA and recharacterize to roth. the wrinkle is that i did not do it in calendar year 2024 which would have generated a 1099-R for the 2024 tax return which I am now preparing.  I did the contribution by the deadline of 04/15/2025 but  I will not get 1099-R for it until next year. by not having the 1099-R it is creating a 6% penalty in turbotax because I have no place to state it is a non deductible and recharacterizstion as I would if i had to enter 1099-R

[fanfare]

Ignore my first reply and refer to my second reply.

You did a conversion, not a recharacterization.

@user17598876232 

[baldietax]

yup that's a conversion

but the conversion is part of your 2025 taxes not 2024, all you should put into your 2024 return is the non-deductible contribution to the Trad IRA, which will be reflected as a basis in your IRA  online 14 of Form 8606 which carries forward to 2025.

Roth conversions are taxed by calendar year, when you get the 1099-R for 2025 you would then include the conversion in your 2025 taxes.

See https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-...

Check there was no misunderstanding with your brokerage also if you asked them to "recharacterize" it - check the transaction was classified as a contribution to your Trad IRA and conversion to your Roth IRA (which is just a transfer between IRAs), not a contribution to your Roth IRA.  You should also have Form 5498s showing the contribution to the correct account.