I started making Backdoor Roth IRA contributions to my Roth IRA last year. Before the tax deadline for 2022, in early April, I made a $7000 after tax contribution to the IRA to be converted into Roth for tax year 2022 and then a $7500 after tax contribution to be converted into Roth for tax year 2023. I got a form 1099R from the IRA declaring both distributions for 2023 as $14,500. When I enter this 1099R In Turbotax I answer the question that I moved money to another retirement account, then that I did a combination of rolling over, converting or cashing out the money, and finally that I converted the full amount ($14,500) to a Roth IRA. When I check 1040 line 4a, IRA distributions, is $14,500 and line 4b, Taxable amount, is $7,000. The $7,000 was a conversion for tax year 2022. I shouldn't owe any taxes. I already paid my taxes on this money and I am using the IRA to Roth conversion allowed. It seems the problem is that I made both contributions in one tax year but this allowed. How do I fix this? Do I need to file an amendment to my 2022 taxes? Even if I do, how does that take care of my 2023 taxes? It seems to me that to do this cleanly the financial institution should give me a 1099R for 2023 showing a distribution of $7,500 and another 1099R for 2022 showing a distribution of $7,000.
