I removed excess contribution (6000)of 2019 in Dec 2020 after tax return due. Now I got 2020 1099R with code J.
( distribution5891, I guess 6000. + loss? And. Taxable amount zero)
How Do I enter this in 2019 amend?
If I use 2020 1099R to amend 2019 tax return, do I still report it in 2020 Tax return??
And I recharacterized non deductible contribution for 2020 7K + 7k earning in ROth IRA to T IRA and converted to Roth in 2020. I entered 2020 1099 R and from8606 shows 7k taxable amount. Is this correct?
I did not do any deductible T IRA. ( I had zero inT IRA before)
I contributed non deductible 7 k to Roth IRA and recharacterized 14k( 7k + 7k earning) to T IRA, then converted to Roth IRA ( back door IRA). So taxable amount seems to be for earnings even though it has not occurred in T IRA?
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Yes, the earnings would be taxable in the conversions.
You will enter the recharacterization when you enter the contribution to the Roth IRA
To clarify, your 1099-R 2020 for the remove of excess contribution has only code J, correct?
No, if it has only code J in box 7 then the 1099-R 2020 will belong on your 2020 tax return and you won't need to amend your 2019 return.
To enter the 1099-R for the conversion:
After you entered both 1099-Rs:
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