DanaB27
Expert Alumni

Retirement tax questions

The 2021 Form 1099-R  for the recharacterization with code R-Recharacterized IRA contribution made for 2020 and this belongs on the 2020 return. But a Form 1099-R with code R will do nothing to your return. You can only report the recharacterization in the IRA contribution section above. Therefore, you can ignore the Form 1099-R with code R and do not need to amend your 2020 return.

 

@taxespain007

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