I didn't know about the income limit for contributing to traditional IRAs pre-tax, and I recently found out I have been over the limit since 2024. I contributed the full pre-tax amount in 2024 and 2025, and I also started contributing in 2026.
After finding out, I was able to recharacterize my contributions for 25 and 26 as Roth instead of traditional through my financial institution. It was too late to recharacterize the 2024 contributions.
I've been fililing my taxes with TaxSlayer, and I don't think it tried to give me a tax deduction for those contributions. At least, it didn't reduce my taxes. I did already file for 2025 before I recharacterized those contributions.
What do i need to do to fix this? I'm not even sure where to start.
Thanks in advance!
IRA problem- I was over the limit. What do I do?
byu/BriansThoughtMirror intax
Posted by BriansThoughtMirror