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Retirement tax questions
Thanks so much David @DavidS127 for your timely response!
A few follow-ups:
1) So, when turbotax asks me how much I contributed to Roth in 2019, should I just say '0' and be done with it? As if it never happened?
2) For 2020 Tax year, I'll fill 1099R that I receive next year with the JP code you mentioned - Thanks for this!
3) I am also trying to clean up my past excess roth contributions: I made excess contributions in 2017 and 2018. I am removing them now but still have to pay fine on those for all past years (I'll be amending those) but also for 2019 and 2020. I couldnt find a way to populate form 5329 on TurboTax this year. How do I pay this fine for 2019 and waht paperwork/reporting do I need for this? Is there a way for me to locate this in the software? Do I also need to update a 8606 for this excess roth contributions for past years etc?
Many thanks for your help!
Simran