dmertz
Level 15

Retirement tax questions

TurboTax response suggests that the code that you have selected for box 7 of TurboTax's 1099-R form does not indicate a recharacterization.

 

" Box 2a for taxable amount is $0 (I assume since I paid the tax on the 2021 return when the recharacterization was made)."

 

This statement makes no sense.  Recharacterizations are never taxable.

 

What is the code in box 7 of the 2022 Form 1099-R provided by the payer?

Is the IRA /SEP/SIMPLE box marked?

 

Did you do any Roth conversions and, if so, in what year?