@Random_Bunny wrote:
Thank you Macuser_22. I remember you- you gave me these instructions last year (2020) here >> (https://ttlc.intuit.com/community/retirement/discussion/re-contributed-to-roth-shouldn-t-have/01/202...) and I did follow your advise to report this recharacterization. So, I believe I took care of it while filing my 2019 taxes last year.
- But, now I have received 1099-R with code R in box 7. So, do I need to still go back and amend my 2019 taxes again or since I did what suggested last year so there is no need to do anything and simply ignore this 1099-R with code R in box 7?
- 1099-R with code N, TurboTax must have done its things because it imported this 1099-R with code N from Vanguard. So I do not have to do anything extra here- correct?
- Same with 1099-R with 02 in box 7. TurboTax imported from Vanguard and I filled some more info that it asked me- so I am assuming I am good there. So nothing extra to be done?
Code R and N are reported as I said. If already reported then the 1099-R can be ignored.
A code 2 reports a distribution and must be entered on your tax return.
**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.**
