Hi all,
Doing my 2019 return and TurboTax is telling me I need to amend my 2018 return because "my 1099-R reports earnings made on contributions made in 2018. This information needs to go on your 2018 return. I have the CD version and gone into TT 2018 to initiate an amendment but I don't know what exactly I need to do. Here's a more detailed description of my situation:
In early 2019 (tax year 2018) I transferred money to a Roth IRA directly, which was a mistake. What I should have done was transfer to a Trad IRA, then Roth (a backdoor Roth). I'm married filing separately and I can't deduct any IRA contributions, and a form 8606 was created as part of my 2018 return. Once I realized the mistake, I had the funds recharacterized and moved to my Trad IRA. This was a month later and after I filed my tax return. Between the mistaken transfer of funds to the Roth and the correction to make it a Trad IRA, its appears the value of that investment increased by $1.62 (it was in a money market fund or something). My 2019 1099-R is has an "R" in box 7 and I'm guessing this is the reason it was flagged. So, like I said above I can get to the 2018 return in the TT software to make an amendment, but I'm not sure where to go from there. I went to the retirement section but it's asking for a 1099-R form and I don't have one from 2018. I would assume I don't use the 2019 form.
Anyways, can anyone help? Thanks,
-Matt
