Hi,
Me and my wife are filling jointly. Here is the timeline for our IRA contributions and roth conversions.
For 2019 Contributions
* My IRA contribution - 06/2019
* Roth Conversion - 06/2019 (immediately)
* Wife's IRS contribution - 01/01/2020
* Wife's Roth conversion - 02/2020
When I filed 2019 taxes, we missed to report the conversion from my wife's account for 2019 as 1099-R didn't have it yet.
In 2020
We did the contribution and conversion for both me and my wife in 06/2020 and did immediate conversion.
As per 2020 1099-R for my wife, there is 12,000 distributions on Roth IRA and it is flagging that we have to pay 6% penalty every year due to excess contribution.
How we can adjust it so that the contribution and conversion both for 2020 is at 6000 instead of 12,000 as per 1099-R.
Thanks
