In February 2021 I made a Roth contribution of $7000 for tax year 2020. I subsequently found that the whole contribution was not allowed due to MFS filing status. I asked the custodian to do a corrective distribution, and they returned $6895.95 (market had dipped in the intervening month).
I did not report anything on my 2020 return. I eventually received a 5498 for tax year 2020 showing the $7,000 Roth contribution, and a 1099-R for tax year 2021 showing the $6895.95 distribution on line 1 (code 8, J), with a taxable amount of 0 on line 2a.
Do I need to amend my 2020 return? Do I need to report anything on my 2021 return? Thank you!
