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Retirement tax questions
So how does would the 2019 return be properly amended? Do you enter the 1099-R received in 2020 into the 2019 return? Is a Form 8606 required?
I made a Roth IRA contribution in mid-2019. In February of 2020, I realized my income was over the limit for a Roth and recharacterized the 2019 contribution and earnings to enable me to do a backdoor Roth. Turbotax is telling me I MAY need to amend my 2019 return. Since the Recharacterization occurred in 2020, I thought the taxes on the earnings would be paid on the 2020 return. Please advise.
‎February 1, 2021
9:41 PM