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Amend prior return to include recharacterization?
I contributed to a Roth IRA in 2020, but then realized in Jan 2021 that I was not eligible due to income limit. I did a recharacterization and transferred the contributions from the Roth into an traditional IRA. When I filed my tax return for 2020, I did not include the recharacterization. I would like to go back and correct this, but I do not know which year to amend. I recieved the 1099-R and 5498 showing the recharacterization that was done in Jan 2021 for tax year 2020. Which year do I amend, 2020 or 2021?
‎January 3, 2024
10:12 AM