For TY 2018, I contributed $5500 to a Traditional IRA which was then recharacterized to a Roth IRA. My income limit was below the limit for contribution to a Roth IRA (MAGI less than $135k) so the Roth contribution shouldn't be an issue.
Because my MAGI was above the Traditional IRA deduction limits of $63k-73k, I did not take any deduction on the Traditional IRA contribution before it was recharacterized to a Roth.
My broker sent me a letter in 2019 saying that there was a $2-3 loss during the 'computation period' for recharacterization.
While doing my TY2019 taxes, TurboTax is saying I may need to file an amended 2018 return because the 1099-R is reporting earnings on the TY2018 contribution. Does the 'earnings' referred to here mean the Gross Distribution in Box 1 on 1099R, or is it referring to the earnings/loss computed on the recharacterization - which as mentioned above is only a loss of $2-3? Do I need to file an amended 1099R in this situation for TY2018?
