I made a contribution of 4000 to my Roth IRA in Mar of 2020. Now that I a preparing my taxes for 2020 I realized in am over the income limit to make direct contribution to Roth in 2020..
In order to fix that, I made a recharacterization of 4000 to traditional IRA in Mar 2021. Funds were in loss so only 3833 came over to traditional IRA.
(I only recharacterized the contribution made towards 2020, previous year contribution were left untouched since they are done when I was below the income limit)
My traditional IRA originally had a 500 in it, that I contributed for 2021, and its a after tax contribution.
Then I converted the 3833 + 500 from traditional IRA to Roth IRA in Mar 2021
Having said that what all tax forms should I do for 2020 and what I would have to do for 2021.
And how do I do those in Turbo tax?
I haven't filed my taxes for 2020 yet.
