@mrohling wrote:
Should I have fidelity include this code in box 7?
N--Recharacterized IRA contribution
made for 2020 and recharacterized in 2020
Does this represent changing your mind within 2 days of making a contribution?
thanks
No. Removing it is NOT a recharacterization. It should have a code 8 of you asked the IRA custodian that the contribution be returned. If you simply withdrew it yourself as a normal distribution then it ill be taxable.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
