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Get your taxes done using TurboTax
You only need to amend your 2022 return if you didn't report the recharacterization with the steps I mentioned previously. Check if you have a 2022 Form 8606 on your 2022 tax return. If not then you need need to amend your 2022 return to add the recharacterization and make it nondeductible.
No, the 2023 Form 1099-R with code 2 belongs on your 2023 tax return and you need to report the Roth conversion you made in 2023. If your basis changed on the 2022 Form 8606 line 14 this will have to be entered on line 2 of the 2023 Form 8606. Therefore, you will still need to amend your 2023 tax return.
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‎February 7, 2025
12:59 PM