I posted last year about having learned that the contributions I made to a Roth IRA in 2018, 2019, and at that point in 2020 were all ineligible contributions. I recharacterized my 2019 and 2020 contributions as Traditional IRA contributions and withdrew my 2018 contribution.
Throughout the year, I made converted those recharacterized funds back to my Roth IRA and made additional contributions to my traditional IRA and converted them to a Roth IRA. As a result, I have received multiple 1099-R forms and I'm trying to ensure that I am entering everything correctly.
I received the following 1099-Rs:
1. $5,500; Box 2a empty; Code J - this is my 2018 contribution that I withdrew; the earnings stayed in the Roth IRA.
2. $1,424; Box 2a empty; Code N - 2020 recharacterization
3. $6,566; Box 2a empty; Code R - 2019 recharacterization
4. $10,731; Box 2a - $10,731; Code 2 - This is for the Traditional IRA and includes the conversions I made to my Roth IRA. All of my Traditional IRA contributions are nondeductible because I am over the limit, the same reason I am unable to contribute to a Roth IRA.
After I have entered everything into TurboTax and I get to the end I am told that my total IRA distributions are $16,231 and that $0 is taxable. My understanding is that this is accurate and that none of these distributions are taxable because my Roth withdrawal was entirely my contribution and none of the earnings, my recharacterizations are non taxable, and my Traditional IRA distributions is nontaxable because they are were all nondeductible contributions.
Is this all accurate?
