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Retirement tax questions
The 1099-R 2021 you will receive in 2022 will have the code R in box 7 and will belong on the 2020 tax return. But a 1099-R with code R will do nothing to your return therefore you do not need to create one. You can only report the recharacterization as mentioned above.
You do not need to enter the 1099-R 2021 with code R on your 2021 return and can ignore it.
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March 13, 2021
12:16 PM