Retirement tax questions

A Form 1099-R with code R for a recharacterization will do nothing to your return. You can only report it as mentioned below. Therefore, you can ignore Form 1099-R with code R. 

You should have reported the recharacterization on your 2021 tax return like this (assuming a Roth IRA was recharacterized as a traditional IRA):

1. Click on "Search" on the top right and type “IRA contributions” 
2. Click on “Jump to IRA contributions"
3. Select “Roth IRA”
4. Answer “No” to “Is This a Repayment of a Retirement Distribution
5. Enter the Roth contribution amount 
6. Answer “Yes” to the recharacterized question on the “Did You Change Your Mind?” screen and enter the contribution amount (no earnings or losses)
7. TurboTax will ask for an explanation statement where it should be stated that the original $xxx.xx plus $xxx.xx earnings (or loss) were recharacterized.
8. On the screen "Choose Not to Deduct IRA Contributions" answer "Yes" (if you are thinking about doing a backdoor Roth. If you have a retirement plan at work and are over the income limit it will be nondeductible automatically and you only get a warning and then a screen saying $0 is deductible)

If you made the traditional IRA contributions nondeductible you will have Form 8606 on your 2021 tax return with a basis listed on line 14.