Hello -
I am having similar issue to many other posters:
- I contributed $6k + $6k after tax, non-deductible to Roth IRA between Jan 2021 and April 2021 - half was for 2020, half for 2021. My income was over the Roth IRA limits so i had Vanguard recharacterize all of it to traditional IRA (which had zero balance). then all $12k was converted to a Roth shortly after this.
My 1099-R from Vanguard says:
1- Gross dist: 12000.01
2a- taxable amount: 12000.01
2b- X (total distribution checked)
7 - distribution code: 2
IRA/SEP/SIMPLE: x
so when i follow the instructions above, i wind up having my total tax refund reduced (it seems to be calling my distribution "income") and then i also get a warning for being over the Roth IRA contribution limit and it starts the process to tax me for excess contributions
help please!
jt
