- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thanks DianeW777. I guess I'm still confused.
I saw this advice in another thread
"Next year (2018) when you receive a 2017 1099-R with a code "R" in box 7 reporting this, you can ignore it since you would just have to amend 2016 and report it the exact same way - the 1099-R only informs the IRS of the recharacterization".
This seems to mimic our situation in that the 1099-R is for the recharacterization that was done for a 2019 contribution. If I go through TT and enter the 1099-R it then prompts for an explanation which was already provided in the 2019 tax filing. If I do it again here, the implication is this is for a 2020 event - seemingly doing it twice.
Compounding the situation is that another recharacterization for the 2020 income (even though the contribution was reduced) is pending.