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Retirement tax questions
"This statement makes no sense. Recharacterizations are never taxable."
In a way it was taxable. Since I recharacterized to a Roth, the contribution was no longer tax deductible so I paid income tax on the amount that was recharacterized.
"What is the code in box 7 of the 2022 Form 1099-R provided by the payer?
Is the IRA /SEP/SIMPLE box marked?"
Box 7 is "R" and IRA/SEP/Simple is checked.
"Did you do any Roth conversions and, if so, in what year?"
No. Just the recharacterization from traditional to roth in 2021.
‎April 13, 2023
6:35 AM