Personal Finance (Not Investing) • Help w 2023 Taxes - Recharacterization & Conversion

Thanks for your help.

Filing my 2023 taxes. First year dealing with backdoor. Do not have a previous Form 8606.

I contributed to a Roth between 1/1/2022 and 12/31/2022, for tax year 2022. Realized I was over the income limit. Recharacterized between 1/1/2023 and 4/15/2023. Then, converted back to Roth between 1/1/2023 and 4/15/2023.

Received two 2023 1099-Rs.

First 2023 Form 1099-R:
Box 1: Gross distribution: $4,573.81
Box 2: Taxable amount: $4,573.81
Box 2b: Taxable amount not determined = check
Box 7: 2

Second 2023 Form 1099-R:
Box 1: Gross distribution: $4,506.49
Box 2: Taxable amount: $0
Box 7: R

Can someone please direct me as to how to process these? I have spent a collective 10 hours using TBF's posts, but unfortunately TurboTax continues to tax one of the legs.

In my 2022 tax return, it is likely that I specified that I contributed $6,500 to a Roth for 2022, although I am not sure how to verify, and I am not sure if there is an issue dating back to that return.

Thank you.

Statistics: Posted by Clarice — Thu Mar 07, 2024 11:02 pm — Replies 0 — Views 179

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