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For 2015 year tax return, contributed to tax deductible IRA, converted to Roth in 2015. Re-characterized in April 2016. How to handle the 2016 1099R received in 2017?
When filing 2015 tax return, indicated contribution to IRA(received form 5498), converted to Roth(received form 1099R & 5498) and Re-characterized back to IRA account (Answer Turbo Tax questions-Move/Re-Characterized the entire amount from Roth back to traditional IRA). Received tax deduction for the IRA contribution and no tax for the conversion in 2015 return. When entering the re-characterization 1099R, received in 2017, in 2016 tax return. Turbo tax indicated 'MAY' need to amend 2015 tax return? Should this 1099R be entered in 2015 or 2016 tax return? Under what conditions, needs to amend 2015 tax return?
‎June 6, 2019
3:15 AM