No, do not change how you enter the Forms 1099-Rs or they won’t match with what the IRS has reported.
To clarify, more than $1,000 earnings are reported on line 4b of Form 1040? What is shown on the summary page is irrelevant.
If yes, please verify that you have a basis of $6,000 shown on line 1 of your Form 8606. TurboTax should have created Form 8606 after you entered the recharacterization and made it nondeductible.
If you are still having issues you can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions for TurboTax Online:
- From the left menu select Tax Tools.
- Then select Tools below Tax Tools.
- A window will pop up which says Tools Center.
- On this screen, select Share my file with Agent.
- You will see a message explaining what the diagnostic copy is. Click okay through this screen and then you will get a Token number.
- Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.
We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.
@Wonderer1
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