The difference of $1925 is accumulated earnings earned in the account. The earnings may be taxable if you took a distribution. Since this is a rollover, the earnings are not taxable.
You do not need to amend your return but you need to keep a copy of your corrected 1099R. Box 5 is the basis or the amount you paid for the Roth and this information is needed in case if you take a distribution from your Roth. If this is the case, a form 8606 is generated to determine if your earnings are taxable distributions. When you take the distribution and it's reported on a 1099R, you will be asked what the basis in your Roth account is prior to the distribution. Your earnings are only taxable if:
- If you take a distribution from your Roth IRA before you reach age 59½
- and if the Roth IRA account is less than five years old,
If these two conditions, the earnings may be subject to taxes and penalties if you take a distribution.
@Samuel R
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