It depends, if you had already reported the recharacterization on your 2019 return like below then you do not need to amend your 2019 return:
- Login to your TurboTax Account
- Click on the Search box on the top and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select “Roth IRA”
- Answer “No” to “Is This a Repayment of a Retirement Distribution
- Enter the Roth contribution amount
- Answer “Yes” to the recharacterized question on the “Did You Change Your Mind?” screen and enter the contribution amount (no earnings or losses)
- TurboTax will ask for an explanation statement where it should be stated that the original $xxx.xx plus $xxx.xx earnings (or loss) were recharacterized.
The recharacterization can only be reported like mentioned above, entering the 1099-R with code R won't do anything on your return.
If you need to amend your 2019 return then please see How do I amend a 2019 return in TurboTax? for instructions.
@RyanG34
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