Hi @DanaB27
I really appreciate all of your help! If possible are you able to just let me know if my wife's 2020 8606 is correct? I believe we amended it incorrectly and it is affecting our 2022 taxes.
To recap:
- $1138.95 recharacterized in 2020 ($1000 contributed in 2020 for Roth)
- $1000 contributed directly to Traditional in 2020
- $3182.64 recharacterized in 2021 for year 2020 ($2500 contributed in 2020)
- 1099-R code N = $1138.95
- 1099-R code R = $3182.64
- 1099-R for traditional = $2108.95
- No prior basis
- $0 at end of year traditional
Line 1 = $4500
Line 2 = $0
Line 3 = $4500
Line 4 = $0
Line 5 = $4500
Line 13 = $2059
Line 14 = $2441
Line 16 = $2108
Line 17 = $2059
Line 18 = $49
Thank you so much!
