Thank you for the reply!
Since I won't have any withhoIdings I decided on creating a new 2022 form1099-R .
What happens if the codes are different later when I receive the actual 2022 1099-R form?
Oh and I assume I'll just enter the same payer information from my 2021 1099-R form.
A question about my 2021 Form 1099-R:
My current 2021 Form 1099-R is showing box 1 and 2 both with $6k and 2b (taxable amount not determined), and box 7 code#2. I understand that I have taxes due from this conversion. However, shouldn't the new 2022 from 1099-R cancel out the taxes due? Seems that the 2022 1099-R would only prevent future tax penalties and not reverse the taxes assessed on the excess contribution? Please explain.
Thank you in advance!
James
