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Retirement tax questions
That says that is was a recharacterization but if you reported it already in 2015 then you might not need to amend depending on how it was done. The 1099-R form itself will not report it.
What did you report in 2015?
Did you enter it in the IRA contributions section as a recharacterization? (If yes, then there would be a line 15a explanation statement attached to your 2015 return)
Was there a 8606 form with an amount on line 1? (If yes then it was reported as a non-deductible contributions and needs to be amended).
Was the IRA deducted on line 32 on the 1040 form? (If the contribution is there, then it was deducted and needs to be amended).
What did you report in 2015?
Did you enter it in the IRA contributions section as a recharacterization? (If yes, then there would be a line 15a explanation statement attached to your 2015 return)
Was there a 8606 form with an amount on line 1? (If yes then it was reported as a non-deductible contributions and needs to be amended).
Was the IRA deducted on line 32 on the 1040 form? (If the contribution is there, then it was deducted and needs to be amended).
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎June 4, 2019
1:27 PM