@sarahung0816 wrote:
Does it mean I should just recharacterize my Roth IRA through my bank and I will automatically receive a 1099R next year? Without filing the amendment, do I need to do anything to let IRS know about the recharacterization before I receive 1099R? Last, I already e-filed my state amendment (which contained nothing) but haven’t mailed out the federal amendment yet. Should I hold off on mailing out the federal amendment? If so, is it possible to recall my state amendment through turbo tax? Thank you.
Your original questions said: "I recharacterized my Roth into a traditional IRA..." meaning that you already did the recharacterization with your bank. Yes, you will receive a 1099-R for the recharacterization form the bank if done before the extended due date.
Why did you amend a state return if it changed nothing?
Did you enter the recharacterization as I outlined above so that it ether added a deduction or produced a 8606 form if not deductible?
I suggest that you complete the recharacterization with you bank before the time limit expires if you have not already done so and then wait until the 1099-R is received before amending.
**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.**
