Hello TurboTax Community,
I'm facing a couple of issues with my Roth IRA transactions and would really appreciate your guidance:
1) Indirect Roth IRA Rollover Issue: I transferred $6,000 from my Roth IRA at Brokerage A to a Roth IRA at Brokerage B in 2022. This was done by withdrawing the funds to my checking account, and Brokerage A coded this as an early distribution. I've spoken with them, and they advised me to coordinate with Brokerage B and complete the necessary tax forms to properly account for this as a 60-day indirect rollover. Could you advise on the specific forms or steps I need to take to ensure this is correctly reported?
2) Retroactive Roth IRA Contributions: My son made contributions to his Roth IRA for previous years (since 2019) during a period when he was not eligible to contribute. What steps should we take to address this issue and ensure compliance with IRS rules?
Any insights or advice on how to handle these situations would be greatly appreciated. Thank you in advance for your help!
