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Tax Year Prior to 2020: Two years of contributions on one 1099-R
We made IRA contributions in Feb 2019 for both tax years 2018 and 2019. Because of income limitations, these were traditional IRA contributions rolled over to a Roth IRA. The transaction was completed speaking to a Fidelity rep, and the contributions were $6,500 for 2018 and $7,000 for 2019. The 1099-R we received for 2019 shows a Gross Distribution of $13,500, with Box 7 as 2, and IRA/SEP/SIMPLE box IS checked. When I enter this 1099-R in TurboTax, it seems I'm getting taxed on the $6,500 contribution for 2018. How do I handle this in TurboTax?
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‎February 3, 2020
1:46 PM