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Retirement tax questions
Oh I see, I wouldn't need to specifically file the 1099R. I can just inform the IRS of the recharacterization due to excess contributions by completing the IRA interview section. I guess I was just confused about whether or not the earnings due to excess contributions were taxable, but with the recharacterization, the earnings are just transferred over to the Traditional account.
Thanks for your detailed reply!
‎April 21, 2021
11:33 PM