Do you need to file an amended return when receiving 1099-R?

Forum|Forum|5 years ago
March 20, 2021
6 replies
52 views

Received a 1099-R in 2020. Been using TurboTax online for years. Here's the sequence of events:

1. Contributed to a Traditional IRA in 2019.
2. In early 2020, before filling 2019 taxes, recharacterized traditional IRA to roth IRA.
3. Before April 2020, filed 2019 taxes. 2019 taxes did not list Traditional IRA contributions. Line 4a was blank therefore no deductions taken. There was a additional/supplemental sheet attached to 2019 taxes explaining reason for characterization (reason provided by me, worksheet generated by TurboTax)
4. Received a 1099-R in year 2020 (because recharacterization was done in 2020).

Do I need to file an amended 2019 tax return?

TurboTax Self Employed Online

Best answer by DanaB27

No, you do not need to amend your 2019 return since you included the explanation statement for the recharacterization on your 2019 tax return and that is the only way to report it. The 1099-R with code R will not do anything on your return.

DanaB27

Answer

Employee Tax Expert

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kareny-67

Level 2

I have the same situation about amending 1099R for the year 2020. Now understood that I don't need amend it for 2020. Then do I need to report the 1099R in my 2021 tax return? If so, do I need to amend my 2021 return? Since I have filed the 2021 tax return and didn't report 1099R ? Thanks a lot!

DoninGA

Level 15

@kareny-67 wrote:

I have the same situation about amending 1099R for the year 2020. Now understood that I don't need amend it for 2020. Then do I need to report the 1099R in my 2021 tax return? If so, do I need to amend my 2021 return? Since I have filed the 2021 tax return and didn't report 1099R ? Thanks a lot!

You do not enter a 2020 Form 1099-R on the 2021 tax return. Only a 2021 Form 1099-R can be entered on a 2021 tax return.