Level 15

Retirement tax questions

If 2018 TurboTax mentioned your 2017 tax return in conjunction with entering the Form 1099-R, apparently the code in box 7 of the Form 1099-R is indicating that the transaction was a recharacterization (code R) or a return of contribution (code P), in either case of a 2017 contribution, not a Roth conversion, and was reportable by explanation with your 2017 tax return.

 

Please elaborate on the contribution you made for 2017 and what you intended to accomplish with the 2018 transaction.