Thank you, very clear. I bet that many other readers will benefit from all this advice.
If I may, allow me to ask some additional random questions:
In the Amended Returns, an explanation of why I am amending is required. In your experience, is a detailed explanation better, or a basic explanation better ? I was thinking something like: " Received Corrected 1099-R form from 401k administrator in December 2024. Amended return reflects Corrected 1099-R and the related non-deductible contribution to my IRA". Your preference?
I am planning to amend as discussed. Out of curiosity, the route of doing nothing and simply waiting for the IRS and FTB to catch up and send me the notices for the additional taxes due is too lazy and inefficient ? I am asking because I have a colleague in the same situation and he is choosing to roll the dice that way....
Thank you
