Thank you. And just to be clear, my case is NOT a regular distribution because of the fact that the codes are JP and J8, and the forms state, "removal of excess". Is that right?
In this link: https://www.betterment.com/resources/common-tax-form-questions/#16 Betterment says, "A common error for a customer who makes an after-tax Traditional IRA contribution and converts those funds to a Roth IRA (backdoor Roth IRA contribution) is failing to report the contribution and conversion on Form 8606. If a taxpayer does not file Form 8606, the IRS will likely make a conservative estimate and assume the entire amount of the distribution is taxable (even though that may not actually be true)."
I'm confused by this for two reasons: 1) their 1099-R "taxable amount" would still be recorded incorrectly and 2) TurboTax tells me not to include any of the removed excess when I get to the 8606 section in TurboTax.
From what you've told me I'm actually supposed to contact Betterment for a corrected 1099-R (I'm fairly certain they won't because they're a major brokerage) and then do my own substitute 1099-R if they don't correct it. Do I have that right?
I really appreciate your help.
