Hi,
I contributed to a Traditional IRA in October of 2018. In January of 2019, I decided that I wanted to put this money into a Roth IRA instead. I performed a conversion of the funds in the traditional IRA to the Roth IRA (I was under the assumption that I was recharacterizing at the time; however, that was not the case).
I completed my 2018 tax return reporting all my contributions as Roth IRA contributions (including the explanatory statement). This year (2020), I received a 1099-R from Vanguard that made me aware that I performed a conversion and not a recharacterization.
Because I completed a conversion and not a recharacterization, it seems that I should have reported my 2018 contributions as Traditional contributions and filled out form 8606. I did not do this. My tax liability should not change as I did not receive a deduction (since I claimed it as a Roth contribution). Do I need to amend my 2018 return to change this from a Roth contribution in 2018 to a Traditional non-deductible contribution (with form 8606) in 2018?
This is, of course, affecting my 2019 filing as I do not have the 2018 Form 8606 justifying my basis in the "converted" traditional IRA that Vanguard's 1099-R provides information on.
Thank you in advance.
