@DanaB27
I appreciate your help with the 2022 Tax. I've filed it and hopefully, I got it correctly
I am a little bit confused about what to enter in Year 2021 1099. When I entered
$3590 (PJ), I got penalized $577 - not sure where this is coming from
$3290 (J), I got penalized $163 ( 6% of $6000-$3290)
When I entered both, then the penalty is gone - something is not right
So do you mean enter J in 2021 not PJ?
So I entered
1. $3591 with Code PJ
2. Enter Prior year Roth IRA Contribution - I think I should enter $6000. -> The penalty changed to $360
3. Enter Excess Contribution $3290 (Code J) as this was for
4. Contributions withdrawn before the Due Date (Enter any contribution that you withdrew before April 18, 2022. -> I think I withdrew both $3290+3591 in October. ... So I enter 0 here?
if I do that the penalty becomes $360.
SO I am very very confused how many penalties I should pay and how to enter it properly.
Should I be entering both 2020 and 2021 Roth IRA contributions in 2021's amendment?
