While completing 2020 tax return, realized was under phase-in range for 2019 Roth and had $500 excess contributions. Began process with custodian to take $500 distribution from Roth. Completed 2019 Form 5329 and sent in by paper along with 6% tax. Completed 2020 tax return, including form 5329 and the 6% tax. Filed, made electronic payment, and put feet up until 2021. Something caused me to look back at my filed return and I saw that for 2020 I put my information on the 5329 under Traditional instead of Roth where it should have been. To be clear, I showed my carryover from 2019 excess contribution under Traditional rather than Roth. I have no other excess contributions but the single 2019 Roth incident. Idiot - that is what I get for doing them while exhausted and not waiting until next day to double check. On the 2019 5329, my information is correctly under Roth. This mistake changes nothing about my tax due. My concern is that it will result in confusion in 2021 when I provide information on the Roth distribution curing the 2019 excess contributions. Should I:
1. File a superseding return immediately
2. Wait until return is processed and then file amended return with 1040-X showing no changes but provide an explanation in Part III
3. Do nothing and assume that with the correct information in 2019 showing an excess Roth contribution that the IRS will figure out that the carryover reported in 2020 was from Roth
Thank you for the help!
