543061
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.
You'll need to sign in or create an account to connect with an expert.
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.
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.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
werty
Level 1
rk38
Level 2
Slowhand
New Member
guitarman7510
New Member
fpho16
New Member