I deposit $7000 into Roth IRA for 2020 in early 2020. I realized I put too much money into the account. Also I decided to switch $4231(the amount I qualify) into traditional IRA and remove the excess $2769 from Roth IRA. I submit both forms in Feb 2021. There are earnings comes with those to transactions. I understand I wont get the 1099-R form until 2022. I haven't filed the tax return for 2020 yet. I will like to include those recharacterization and removal of excess fund in my 2020 tax return so I don't pay 6% penalty. I was able to enter the recharacterization part of it into Turbo Tax. I also enter the removal amount of $2769. But it didn't ask to enter any earning. I thought I have to pay 10% penalty plus income tax on the earnings. I realized I might have to create the 1099-R myself.
My questions is 1) do I have to create two 1099-Rs, one for each transaction? 2) how to fill out each form correctly?
