In 2020, I contributed $6000 to my Roth IRA. In January 2021, I realized my income precluded me from making that contribution to my Roth IRA in 2020, so I recharacterized the $6000 contribution as a contribution to a new Traditional IRA (let's call it tIRA-2020). I reported the $6000 Roth IRA contribution as a recharacterized tIRA-2020 contribution in my 2020 return, and explained the recharacterization as required.
In 2021, I converted tIRA-2020 to my Roth IRA (backdoor #1). Also in 2021, I contributed $6000 to a new Traditional IRA (tIRA-2021). A week later, I converted tIRA-2021 to my Roth IRA (backdoor #2).
It is now 2022 and I've received three form 1099-R:
1099-R #1: Roth IRA distribution for recharacterization ($6000+earnings)
1099-R #2: tIRA-2020 distribution for backdoor ($6000+earnings)
1099-R #3: tIRA-2021 distribution for backdoor ($6000)
I'm planning to report 1099-R #1 on my 2020 tax return and filing amended.
I'm planning to report 1099-R #2 on my 2021 tax return.
I'm planning to report 1099-R #3 on my 2021 tax return.
Is this plan correct? Anything I should check on or pay special attention to? Any gotchas?
Thanks
