Two additional clarifications for our case.
When the brokerage removed the excess Roth Contributions that we found out about while working on taxes, they did not sell off the excess contribution. Instead, they reclassified the excess contribution for 2021 as a Roth IRA contribution for 2022 about a week ago. Again, a 1099-R form will be created and sent out in early 2023 for 2022 for these reclassifications for my wife and for me.
How does this change how we go about filling out taxes for 2021 in turbo tax in order to avoid penalties?
Note: I am over 59.5 years old but my wife is not.
Thanks for your help!
