Hi,
I spent many hours reading about it, but couldn't find a definite answer. So, here is my situation,
I contributed to ROTH IRA in 2020, then I field my taxes for 2020 in 2021.
Post filing my 2020 taxes in 2021, I realized that my AGI is over the limit and I wasn't eligible for ROTH IRA. So, I called my IRA provider and recharacterized it, and then converted it back to ROTH IRA.
Now, in 2022 I received two 1099 R forms one form has the Distribution code "R" and another form has the distribution code "2".
What are these two forms? And, how do I report it on my taxes?
Since this recharacterization is for 2020 should I amend my 2020 returns? This doesn't change anything with respect to taxes, as the initial ROTH contribution is already post-tax and I just recharacterized it to traditional.
Or as this is done in 2021 should I somehow report it on 2021 returns?
Thank you.
