@rich25 wrote:
In March 2019, I recharacterized 2018 contributions to Roth IRA to a traditional IRA. Traditional IRA was not deductable so I completed Form 8606 and recharacterization statement and submitted with 2018 tax return. I received a 2019 1099-R with amount recharacterized in box 1, $0 for taxable amount in Box 2, and R in Box 7. Since I completed form 8606 and recharacterization statement on 2018 tax return, I should not have to amend 2018 return even though turbo tax says I need to?
It tells you to amend so that you can do what you already did, so nothing else is required. The 2018 explanation statement and 8606 is how it is reported.
**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.**
