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vabanister
New Member

Do I need to file an amended return for 2015 because I recharacterized a portion of the amount I converted to my Roth IRA from my Rollover IRA?

I recharacterized a portion of my Roth IRA conversion from my Rollover IRA for 2015 tax year. The recharacterization was done in 2016.  My 2015 tax return reflected the recharacterization.  Turbo Tax is now telling me that I need to file an amended return for 2015.

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Accepted Solutions
macuser_22
Level 15

Do I need to file an amended return for 2015 because I recharacterized a portion of the amount I converted to my Roth IRA from my Rollover IRA?

If you already reported the recharactorization in the IRA contribution section in 2015 then that is all that is necessary.  A 1099-R with a code R does nothing and does not need to be entered - it simply informs the IRS of the recharacterization.  

What TurboTax means by amending 2015 does not mean to enter the 1099-R in 2015 but to enter the recharactorization in the IRA Contributions section and enter an explanation when the interview asks for it - which, if your reported in 2015, you have already done.

**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.**

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2 Replies
macuser_22
Level 15

Do I need to file an amended return for 2015 because I recharacterized a portion of the amount I converted to my Roth IRA from my Rollover IRA?

If you already reported the recharactorization in the IRA contribution section in 2015 then that is all that is necessary.  A 1099-R with a code R does nothing and does not need to be entered - it simply informs the IRS of the recharacterization.  

What TurboTax means by amending 2015 does not mean to enter the 1099-R in 2015 but to enter the recharactorization in the IRA Contributions section and enter an explanation when the interview asks for it - which, if your reported in 2015, you have already done.

**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.**
vabanister
New Member

Do I need to file an amended return for 2015 because I recharacterized a portion of the amount I converted to my Roth IRA from my Rollover IRA?

Thanks bunches. That is what I thought was the case.

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