@DianeW777
@DanaB27
Hi, I've started amending my 2020 return. I've done all the steps above and listed the numbers as suggested. However, after inputting the recharacterizations I have ended up owing $213 for both my wife and I. Does this make any sense that I would have to owe money even though I have not taken out any money but just converted? Because of this I have decided to revisit my 1099-R inputs for year 2020.
For my traditional 1099-R the amount was $2203 and taxable amount was $2203 with box 7 = code 2 and IRA/SEP/SIMPLE checked. When it asks what did I do with this money, I converted it to Roth.
Do I choose "I moved money to another retirement account" and "I did a combination of rolling over, converting or cashing out money?" And this amount would be the whole $2203 correct? Thank you
