Yes, under "Wages and Income" under Outstanding Recharacterizations you will put $1000.
Yes, under "Deductions and Credits" under "Enter your Roth IRA contributions" for 2020, you will enter $1000.
No, on the next screen "Tell Us How Much You Transferred of this $1000" you will have to enter $1,000. You will enter the gain on the explanation statement: The original $1,000 plus $317 earnings were recharacterized.
No, you do not need to enter the 2021 Form 1099-R with code R because it won’t do anything to your return. It won't make any changes to your return. Therefore, you can ignore it.
@dhuynh44
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
