Hello,
I received 2 1099-R forms from my bank this year. In 2024, before 2023 tax deadline, I tried rolling over a traditional IRA into a Roth IRA but realized I would not get the 1099-R form in time, so I ended up filing a removal of excess. This happened within the span of a few weeks so no taxable income (confirmed on the form). Not long after in that same year, I decided to go forward with putting the same money in and then properly rolling it over to a Roth IRA.
The first 1099-R form I received shows the first amount I put in and shows 0 taxable amount and distribution code P. In TurboTax Desktop software it says I will need to amend my 2023 return for this.
My 2nd 1099-R form shows what I was expecting -- the amount I rolled over into a Roth with distribution code 2. Turbotax Desktop software handled this correctly.
Question: I looked around I have had mixed answers of whether or not I actually need to report the first 1099-R form because I had 0 taxable amount. I've read I don't need to but I've also read you may need to amend and report even if its 0 taxable amount because it counts as a distribution. I called my bank and they could only confirm that they purposefully meant to issue both 1099-R forms and one is not a correction of the other. How would I go about amending a 2023 return? The link for amending 2023 return that Turbotax shows goes to a broken link.
Thank you so much.
