IRA result incorrectly processed as traditional instead of ROTH

If it were my advisor I'd expect him to do the leg work at his cost. That is why he is making the big bucks. If he wouldn't I would find a new advisor

It hasn't been reported. It's a no brainer to have your financial advisor reverse the transaction. It will be reported at the end of the year as a Roth IRA contribution. Make sure the contribution and any earnings are transferred.

a tranditional IRA instead of what

I'm just want to know the specific steps the advisor will be taking to properly resolve this issue. I'm want to make sure my finances are not getting more complicated. This is my first time with an advisor; I have always bought stocks, mutuals funds and Roths on my own. This has not been a good experience.

a tranditional IRA instead of what

Your OP said that the advisor made the deposit. I have to assume that you wrote a check, gave it to the advisor to deposit to a Roth IRA and the advisor failed to do that. You must inform the advisor of the error and request that he/she contact the trustee of the account and make the necessary changes. Ask for confirmation when the change is made.

This was a 2011 contribution, am I correct he has until 10/17 to fix this? April Tax date plus 6 mo extension?

If the trustee can't fix the problem or won't fix the problem then... yes the final date for a recharacterization of the contribution is the due date plus the 6 month extension. So... the t/p can request that a recharacterization be completed no later than 10/15/2012, a Monday (not

10/17/2012). This must be a trustee-to-trustee transfer and include any net gain or net loss.

IRS Pub 590 has complete details on requesting a recharacterization.

I wrote 10/17 only because 4/15 was a Sunday, and 4/16 was a DC holiday this year. Either way, this can be fixed, not too late.

To the OP, I'd disengage with this guy. Attention to detail is critical. Had you not noticed this, it would have cost you.