Hi all,
I contributed $6000 to my Roth IRA in 2021.
I realized that my income changed in 2021 so that I did recharacterize/conversion this $6000 to traditional IRA in 2022.
now I received two 1099-R
one for recharacterization with box2a is 0. The other one is for conversion with box2a with nonzero amount. (Same as gross distribution).
After I did research and advice from here it seems that I need to fill out form 8606.
Since this recharacterization/contribution was for 2021, I did contributed roth IRA in 2022.
the received 1099-Rs were marked with 2022.
When I tried to fill out 8606 form, it says I am maxed out because I recharacterized/contributed $6000 in 2022 (this supposed to be for 2021) and another $6000 roth IRA.
Since the recharacterization/conversion is not really for 2022, thus if I am no to “Any nondedutible contribution to IRA?” Then I cannot have a chance to fill out 8606.
The bottom line is that 1099-R box2a has nonzero amount and it is shown in 8606 form that I cannot change it. Thus this nonzero value is shown up in 1040 4b section.
I am still confused. Thanks n
