Thank you for your reply! This is very helpful. The 2019 amended return instructions worked beautifully, and I only hit a snag on the very last item in the 2020 instructions.
A couple of follow-up questions:
1) On the 2020 return, you said :
- Answer "yes" to "Any nondeductible Contribution to your IRA?"
- Answer the questions about the basis ($6,000) and value
1) The recharacterized money was deposited into a new traditional IRA account that was opened in March 2020, so there was no basis on Dec 31, 2019 because the account did not exist. Does this matter? Is the basis still $6000 because it was for the 2019 tax year, even though the account was opened in 2020?
2) All of the money in the traditional IRA was converted a week after it was opened, so the value of the traditional IRA on Dec 31, 2020 was $0. Should I enter the total amount converted instead, since there was a small amount of earnings before the conversion (conversion amounts: $6158.03 me, and $6508.41 spouse)? When I do this, the gains are taxed.
3) Do I need to re-import my amended 2019 return into TurboTax for preparing my 2020 return? We did not report the erroneous Roth contributions when we filed in 2019.
Thank you so much for your help!
