dmertz
Level 15

Retirement tax questions

The recharacterization required an explanation statement to be included with your 2016 tax return to explain how your Roth IRA contribution became a traditional IRA contribution, the amount recharacterized and the amount transferred from the Roth IRA to the traditional IRA.  Without this explanation, the IRS may question the reporting of the nondeductible traditional IRA contribution.  At this point I would do anything with your 2016 tax return except retain the details that would be necessary to provide the explanation if the IRS ever questions the From 8606.  Otherwise you can ignore the code R 2017 Form 1099-R.  Entering into 2017 TurboTax will have no effect on your filed tax return.

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