Despite trying to hit the nail on the head, I managed to put more into my Traditional IRA for 2018 than I will be able to deduct due to Traditional IRA phaseout limits.
The last thing I want is to track my non-deductible basis for this for decades until retirement. I understand that Roth recharacterizations have been eliminated for 2018, but I'm confused about the difference between a Roth 'conversion' vs a 'recharacterization'.
Am I allowed to simply convert the non-deductible portion of my 2018 Traditional IRA contribution to a Roth IRA or is this too considered a recharacterization? My limited understanding of recharacterization is that it is from a Roth back to a Traditional IRA, which of course is not what I want.