No, you will get the 1099-R 2021 in 2022 and it will be included on your 2021 tax return since the conversion took place in 2021.
Please make sure to enter the nondeductible contribution to the traditional IRA if the contribution on January 15,2021 was for the tax year 2020:
- Login to your TurboTax Account
- Click on the Search box on the top and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select “traditional IRA”
- Answer “No” to “Is This a Repayment of a Retirement Distribution?”
- Enter the amount you contributed
- Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
- Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had a nondeductible contributions before this tax year.
- If you had a basis in the Traditional IRA before then enter the amount.
- On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount.
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