dmertz
Level 15

Retirement tax questions

Since the amount moved back to the traditional IRA was $11,000, box 1 of the code N 2017 Form 1099-R should have shown $11,000.  However, the amount recharacterized was $9,000 and, when you indicate in 2017 TurboTax that you recharacterized $9,000 back to a traditional IRA, the taxable amount of your conversion that was included on Form 1040 line 15b or Form 1040A line 11b should have been $1,000.

 

The details of the code N Form 1099-R entered into TurboTax are largely irrelevant because TurboTax ignores code N Forms 1099-R when preparing your tax return.  All of the information is entered through the entry of the Form 1099-R that reported the $10,000 distribution that was originally converted to Roth.