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posted Apr 1, 2022 9:48:54 PM

Can I attach a letter from Fidelity that I got after the recharacterization of traditional IRA contribution to Roth IRA contribution?

I have recharacterized my traditional IRA contribution to Roth IRA since my MAGI allows me to contribute to Roth IRA. But since I have done this recently, Fidelity won't send me the updated 1099-R before the tax deadline. They have instead sent me a letter which states that there is additional 31$ recharacterization which is sort of gain while my money was there in traditional IRA. I'm looking to  attach this letter for now?
Also, what if I don't attach this at all and just report that  there is recharacterization of money from traditional IRA to roth IRA

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1 Replies
Level 15
Apr 2, 2022 1:16:30 AM

@amitkrg 

you can't attach a letter if you e-File, and it is not necessary.

Report $31 income on 2021 Form 1040 line 4b and you will be done with this.

That is, you can ignore the 1099-R that comes next year.

you'll have to figure some way to get that amount there because TurboTax does not make it easy.

I've heard TurboTax Online will do it.