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Get your taxes done using TurboTax
Yes, you can ignore the 2020 1099-R with the code R since you have already reported the the recharacterization correctly on your 2019 return.
A 2020 1099-R belongs on your 2019 tax return. But a 1099-R with code R will do nothing to your return. You can only report the recharacterization as DianeW777 mentioned in the IRA contribution section by answering yes to "Did you switch from a Roth to a Traditional IRA - recharacterize".
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March 31, 2021
9:18 AM
1,388 Views