I had a question related to the 1099-R form I received from Fidelity for the Backdoor Roth conversion. I think I did a mistake while moving money from IRA to Roth IRA account
Unknowingly I did not wait enough time for the cash to settle in the IRA account and hence had to do the conversion twice:
- On 28th Dec 2022 when I did the first transfer, only $0.01 got converted to ROTH IRA
- On 5th Jan 2023 I noticed that not all $6000 were converted and hence I initiated another transfer for $6,001.91
Because I converted $6,001.91 in 2023, the 1099-R form that I received for 2022 has only $0.01 in the box 1, 2a and also in the Roth IRA conversion amount in Form 5498
Is this expected and will this cause any issue while filing taxes (I have filed for an extension for 2022) ?
For the later amount ($6,001.91) that I moved on Jan 5th, will that be reflected in the 1099-R form for 2023?
Should I just report that I rolled over $0.01 this year and then rolled over about ~$12000 when I file taxes for 2023 ?
TIA
