I wish these forums had a function to quote other users posts so I could respond to you line-by-line. I will attempt to replicate that functionality by putting your comments in "italics":
"if you would enter it in your 2020 tax return TurboTax would tell you it belongs on the 2019 return."
Ok I think that makes sense because I did indeed enter it on my 2020 tax return and I got this message "Looks like you may need to amend your 2019 return" <--that's exactly what you're referring to right?
"But a 1099-R with code doesn't do anything to your return when you enter it in 2019 and say it is a 2020 1099-R Form. It only gives the IRS information that a recharacterization happened."
Ok so basically since it doesn't impact my 2019 taxes one way or the other that's the reason why I do not need to bother amending my 2019 return, correct?
"Did you enter the full $590 as a traditional IRA contribution on your 2019 return?
Or did you enter $350 as directly contributed to the traditional IRA and then the $240 under Roth IRA contribution and then recharacterized with the steps above?"
I honestly don't fully remember since it has been nearly a year and my memory is a bit fuzzy. That being said, I think that I read somewhere that a recharacterization (from type A to type B) means you should treat it as if it was contributed to Type B all along...therefore I believe I entered the full $590 as a traditional IRA contribution on my 2019 return. I am looking at my 2019 return right now, so is there a way I can verify this information to make sure I am accurately describing to you how I did things last year?
