I hope it works out as easy and straight forward for 2023 amendment as you are suggesting. I had pretty tough time trying to get TT to populate 5329's for 2022 accurately for me and my spouse when using automated step by step instructions (this was before our discussion on this forum). Once it didn't do it correctly, I reverted to filling forms myself on TT, it still won't change anything. So finally, I decided to do everything manually after our discussion here and it wasn't that difficult. However for 2023 amendment, as I am interested in e-file 1040X, I hope I don't get into similar issues and TurboTax allows me to fill the forms accurately.
Couple of other 2023 amendment issues below related to what you have said.
1. "You have to explain why you are amending early." What kind of explanation is necessary?
2. "Also explain that you are leaving Form 5329 Part I empty because you know there is no early withdrawal penalty." Why is that required? Do I have to do that for both 2022 and 2023?
3. " The simplest way is to use Code 7 in box 7 and do check the IRA box, even though you have a Roth IRA." I had read in a different community forum that someone got it issues doing just that and received a notice from IRS. He/she had to go through lot of effort trying to get things/information right with IRS on that. Any comments?
3. Now assuming once I do 2023 tax amendment in next couple of months with the disbursement information that will be received on "2024 1099-R's" in 2025, what do I do with those 1099-R's that i receive in 2025. Do any of the distribution information included on 1099-Rs go on 2024 taxes to be filed in 2025? or do i just file them for record and need not worry about it. Either of the two options don't appear good. If I repeat the information on 2024 taxes, won't that cause confusion and possibly dual taxation?
@fanfare
