DavidD66
Expert Alumni

Retirement tax questions

For 2020, since you did the recharacterization prior to filing your 2020 tax return, and that fact that you incurred a loss, you don't have to do anything for 2020.  For 2021, you will receive a Form 1099-R for the conversion, you just need to report it by entering on your tax return.  You will also need to complete and file a Form 8606 and file with your 2021 tax return.

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