@tmiller1973 wrote:
Ok. Thank you. I understand that I need to file a form 5329 for contributions made in 2018 and then 2018+2019 in 2019 and each year after until now. I don't need to include the contributions from 2020 in a 2020 5329 because they were recharacherized.
When I do amend 2020, I need to state I made a contribution to a traditional/non-deductible IRA and Turbo Tax will generate the 8606 form to document this. In Turbo Tax is this triggered from an Income item or a Deduction item? I ask because not knowing where this is triggered is what got me into all this in the first place. Thank you for your help!!!
I believe you start by entering the Roth IRA contribution on the deduction/contribution interview.**. Turbotax will tell you that you are not eligible, and will ask you what you want to do. One of the choices will be "recharacterize before the filing deadline" and Turbotax will follow up from there.
(**Eligible Roth contributions are not required to be reported on a tax return, but turbotax allows you to enter them so it can check for situations like this.)
