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Get your taxes done using TurboTax
Hey, so i guess that’s my question too. I have 2 forms for 2020 5498, one for traditional and one for Roth. Lets say I accidently made a contribution to Roth in 2020 for $1000, and what I did was recharacterize that $1000 in 2021 to traditional right before I filed for 2020, so I just received the 1099-R for that now. Do I add this $1000 from my 2020 Roth 5498 (also what I recharacterized in 2021) to the basis of my traditional IRA for end of year 2020? Sorry for all the confusion, this became way more complicated with multiple years. Thanks
February 23, 2022
7:40 PM