Do I ignore (not enter it in Turbotax) a 1099-R I received for tax year 2018 since I recharacterized my traditional IRA to roth IRA when I filed my 2017 tax return in Feb., 2018?
If your 2017 tax return already reflects the Roth IRA contribution that resulted from the recharacterization, i.e., there is no deduction for a traditional IRA contribution and no Form 8606, there is nothing you need to do. You can enter the code 2018 Form 1099-R into 2018 TurboTax, but TurboTax will ignore it other than to remind you that the recharacterization applied to your 2017 tax return.
What is the code in box 7 of the Form 1099-R provided by the payer?
Is the IRA/SEP/SIMPLE box marked?
The code in box 7 of the Form 1099-R is "R". The IRA/SEP/SIMPLE box is not marked.
My 2017 tax return has no deduction for a traditional IRA contribution and no Form 8606. However, when I entered the Form 1099-R into 2018 Turbotax, it suggested me to amend 2017 tax return. Should I ignore this message?
Yes, ignore the message. It's a just reminder to those who filed before considering recharacterizing.
If your 2017 tax return already reflects the Roth IRA contribution that resulted from the recharacterization, i.e., there is no deduction for a traditional IRA contribution and no Form 8606, there is nothing you need to do. You can enter the code 2018 Form 1099-R into 2018 TurboTax, but TurboTax will ignore it other than to remind you that the recharacterization applied to your 2017 tax return.