I contributed $6,000 to a Roth IRA in 2019. In 2020, I realized that I was not eligible to contribute to a Roth, and I recharacterized my contributions to a Traditional IRA in March 2020.
I understand I can wait to handle this until next year when I get my 1099R and amend my 2019 return, but I would like to do it now and avoid amending my return if possible.
I've seen examples of a "Mock 1099R" from @macuser_22 posted which have been very helpful. But I cannot find an example that is exactly what I have done, and have some questions on the Mock 1099 R if someone can help.
Facts:
- $6,000 contributed to Roth in 2019
- In March 2020, I recharacterized the contributions to my Traditional IRA. $6457.20 was transferred ($6,000 original contribution plus $457.20 in gains calculated by TD Ameritrade)
- I do not have a 1099R or a 5498 form yet, since these are 2020 transactions
If the mock 1099R is a viable path... can someone help me confirm the following?
Box 1 = $6,457.20
Box 2a = $0 or $457.20 ?
Box 2b = leave unchecked ?
Box 3 = $457.20 ?
Box 4 - 6 = leave blank ?
Box 7 = this is where I am most confused and looking for guidance. J & R make sense to me, but R has the wrong years (2018 contribution recharacterized in 2019). I've seen other forum references to P as well.
Box 8+ = leave blank ?
I appreciate the help! I apoligze if this post duplicates another, but I did a good scrub of the open questions and couldn't find one that was the same (if there is one I missed that you are aware of, please let me know!). let me know if you need any additional information.
