Hello Community!
For tax year 2021 I had to recharacterize Roth IRA contributions (done before filing 2021 return) and filed with my 2021 return a substitute 1099-R (form 4852) with the numbers from the brokerage firm. I received a 1099-R (2022) from the brokerage firm in Jan 2023 and the values closely match the 4852 filed for TY2021, including Gross Distribution, Taxable Amount and Federal Income Tax Withheld.
My question is what is the correct thing to do with this 1099-R (2022)? If I add it to my 2022 return it seems like I'm accounting for it twice, since I already included a substitute 1099-R (form 4852) in 2021. But it doesn't seem right to NOT include it on my return since the brokerage firm reports this 1099-R to the IRS.
I tested adding it to my return (using 2022 TurboTax Deluxe) and it results in a higher refund, but it doesn't seem right.
Can someone advise the right way to handle this 1099-R? Please let me know if my situation and question aren't clear and I'll try to clarify.
TIA, Jon
