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After you file
When I had the Roth contribution and earnings recharacterized as Traditional IRA, I thought I had to wait until I received the 1099-R documenting the recharacterization before I could amend my 2020 returns. Didn't I?
I didn't receive the 1099-R until earlier this year, which is when I started working on amending the returns.
If I just remove the Roth contribution and replace it with a Traditional IRA contribution in my returns, how would I deal with the income from the contribution? In fact, I think this is what TurboTax did when I started amending the returns. But I also think it didn't know how to deal with the income. Which is why it was telling me I needed to remove that amount from the IRA.
‎September 12, 2022
10:09 AM