- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
It is possible you were penalized for an excess contribution to your ROTH IRA in 2020, so when you amended the return to show the recharacterization, that may have removed the penalty and reduced your tax.
You can look at form 5329 in 2020 to see if you have a penalty. It would show on line 25 for a ROTH IRA. If you withdrew the money before the due date of your 2020 tax return the penalty would be abated.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 3, 2022
11:46 AM