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Question

I selected recharacterize instead of conversion on 2023 taxes and it is showing up as an excess contribution for 2024. I converted the whole amount to a Roth.

Forum|Forum|11 months ago
April 10, 2025
1 reply
0 views

I contributed $7501 to a traditional IRA and converted all of it to a Roth IRA in 2023. I accidentally selected recharacterize instead of convert last year and the amount is showing up on my 2024 taxes as an excess contribution to a traditional from the previous year. How do I complete the back door Roth correctly this year and fix 2023 to be the same?

Employee

" I accidentally selected recharacterize instead of convert "

Clarify.

Did you give the custodian the wrong instruction,

or did you tell TurboTax incorrectly about your action ?

"I contributed $7501 to a traditional IRA "

For what year?