Hi,
I just realized that I have not reported backdoor Roth conversions in my tax filings with TT for the past 5 years.
I have self-filed with TT all the years. My Form 1044 4a and 4b sections are blank in 1040. I have few questions on my situation which is little complicated.
1. Should I amend the taxes for all the 5 years? If yes, both 1040 and 8606 forms need to be updated? Also TT allows me to amend online for last two years. What should I do for the other 3 years? I searched online that taxes for only one year need to be amended with a note to IRS for all the adjustments for all the 4 years. Is that true? If yes, how this can be done? My local CPA is recommending to amend all the 5 years of tax filings with a whopping bill.
2. I have 1099-R and 5498 forms from my brokerage account. Some years I made the transaction for 2 years in current year. For eg, 2020 contribution before filing my taxes in March 2021 and other one in June 2021. 1099-R for 2021 shows $12k. Once I amend the taxes, should I only report $6k or full $12k in 2021?
3. For last few years, I received 1% match from Robinhood in IRA contributions. I transferred all $6,060 to Roth IRA. How do I handle them while reporting?
Thanks in advance for your help.
Regards,
Aayush
