I just realized that I did not report my Form 1099-R from a 2020 IRA distribution in my last year’s tax return. (Covid-19 job work hour reduction.)
I will now need to amend my 2020 tax return and submit my 2021 return at pretty much the same time. When I do that, will I be able to mail out the 1040X and add on the Form 8915-E to correct everything?
Also, in regards to repayment of a qualified distribution, my traditional IRA was closed out early 2020, distributing the full amount <$3000 at the time. In July 2021, I opened a NFCU Roth IRA CD and Fidelity Roth IRA and contributed >$5000, would that be considered an eligible repayment that I can list on my 2021 tax return that I will be filing electronically? (401k contributions started being made again around that time, if I’m able to include that as repayment….?)
Of course, this would mean the 2021 return would be received before my 2020 amended forms declaring the initial 2020 1099-R distribution has been processed by the IRS.
Please direct me in the best course of action as this has instantly become very cumbersome.
Thank you!
