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Retirement tax questions
You need to amend your 2020 return.
When you amend, leave the non-deductible contribution to your Traditional IRA, but remove the distribution and conversion from the Traditional IRA to the Roth IRA.
The contribution to the Traditional IRA was allowed to be completed in 2021 and reported on your 2020 tax return. The conversion to the Roth IRA was completed in 2021 though. Therefore, you are getting a 2021 Form 1099-R that is reporting the conversion of the total of your 2020 and 2021 Traditional IRA contributions.
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March 2, 2022
5:27 AM