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1099-R Code P
I have received a 1099-R with a code P. Turbo Tax is indicating that I must ammend my 2019 return. I am wondering if this is really necessary, here is why. I contribured $6000 to my IRA and Roth in 2019. Due to a bank error, some recharacterization was done, resulting in 7000.00$ being transfered around. Thus, the bank issued me the 1099-R stated in box 1 that 1000.37 gross distrubution, and in box 2a that 0.37 as taxable amount. Seems strange to have to ammend a previous year over 0.37 cents. Please advise if I should ammend 2019 return as instructed? Thank you.
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‎April 7, 2021
1:01 PM