ThomasM125
Expert Alumni

Retirement tax questions

You just need to report a traditional IRA contribution in 2021 if you had the recharacterization apply to 2021. You will get a 1099-R in 2023 for 2022 but it won't show any taxable income since your didn't make any money on the funds contributed. It also won't show the IRA distribution as being taxable since it is from a ROTH IRA. So, you report the form 1099-R on next year's tax return but it won't affect anything.

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