DanaB27
Expert Alumni

Get your taxes done using TurboTax

That is true. If you remove the recharacterization and therefore your basis from 2020 but your wrong Form 1099-R has this false recharacterization amount included as conversion then the tax calculated will be higher because now you have an amount converted without a basis (which is taxable)

 

 It might be best to use the information/ Forms you have now to calculate you tax due with your extension and then when you get the corrected Forms then you can make the necessary adjustments and file your return.

 

@dhuynh44

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