Yes, you will ignore the 1099-R 2020 with code R on your 2020 return.
No, the recharacterization happen for a 2019 contribution, correct? The $240 recharacterization instructions are for 2019. I had the impression that you had reported that on your 2019 return since you had the correct amount on line 3 of Form 8606. If not then you will have to amend your 2019 return to correct your entries. How do I amend a 2019 return in TurboTax?
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